sentiment when it comes to emerging markets, and there's one area that's losing investor enthusiasm our seema modyore on where investors are seeing some opportunity. hi, seema. >>> we've seen net inflows into latin america with hedge funds staying long $90 billion in assets under management telling cnbc he's bullish on brazil. that is on the cusp of cutting rates and a government that is not as left as wall street may think. also betting brazil will benefit from stimulus measures currently its largest trading partner. the current president da silva is in shanghai leading a two-day visit along with business leaders with plans to sign $20 billion worth of bilateral investment deals speaking of china, chinese stocks have had a rough start to the month ahead of next week's gdp release. retail sales evercore expecting them to come in around 4%, guys clearly some level of change in sentiment ahead of that release. >> how does it speak to, i guess, the fundamentals about investing in brazil? you did see that stock market plunge are we seeing this oversold bounce right now, or is there actual meaningful g

let's get more on the strategy and bring in our seema mody. seema, great to have you here.ng to pave the way for apple and expansion in india during his meeting with the prime minister >> reporter: that is right, frank. i'm told by sources on the ground that tim cook's meeting with prime minister narendra modi yesterday lasted 45 minutes. topics from supply chain and ways to expand production and navigating how to work across different states following the meeting, tim cook said they are continuing to grow across the country apple has brought some iphone production with foxconn to india. as we previously reported, ipad production is discussed as well. i'm hearing cook is expected to meet with ceo of bharti enterprises tonight. he wants to show other u.s. companies that they can expand as long as they are willing to invest in jobs in other news, the foreign relations council that cnbc attended, the high ranking executive said india is open for business and there are critics concerned about the data privacy law drafted that would potentially subject u.s. tech firms to sharing

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average occupancy numbers across the nation also starting to soften post the spring break craze. >> seema modyent state of play here for travel let's talk a little bit more about this vacancies are actually ticking up does this signal the end of revenge travel spending? we'll bring in the macing director and senior analyst over at t.d. cowan. kevin, it appears as though the prices that we're seeing are actually leading to a didn't in demand is that what you're seeing as well >> we're not seeing that exactly. i think it's important to point out that lodging bracing is market driven. these hotels are charging what people are willing to pay, and just to put it into context, hotel prices in the u.s. right now are up about 15% to 20% versus 2019, and that's actually right in line or even a little bit below inflation in the overall economy, so, sure. if you look at specific destinations like maybe miami, you'll see higher, but overall it's right in line with overall inflation, and that's just what travelers are willing to pay in terms of revenge travel, the nights in the u.s. and europe right now ar

i'm seema mody chile is planning to boost its economy.ed's second largest producer of lithium and has the largest lithium reserves in the world. the surprise move would transfer control of the vast operations from multiple private companies to a separate state-owned business >>> the supreme court is facing a self-imposed friday night deadline to decide women's access to a widely used abortion pill will stay unchanged or be restricted the supreme court had initially said it would decide by wednesday whether the restrictions could take effect while the case continues justice alito gave the justices two additional days. >>> and the nfl is indefinitely suspending three players for violating the league's gambling policy two other players are each suspended six games. the policy prohibits anyone in the nfl from engaging in gambling in any league, venue or practice facility. a league review uncovered no evidence indicating inside information was used or that any game was compromised that's the latest. scott, back to you >> seema, thank you. that

thank you, seema mody. >>> still to come, netflix hoping a new ad tier and a crackdown on password sharingill drive revenue growth. the stock is flat over the past year we'll break down what to expect from the company's earnings report with ben silverman next h? dad: maybe. i'll put a request in monday. sfx: shattering glass. theme song: unnecessary action hero! dad: was that necessary? unnecessary action hero: no. neither is missing this deal. with paycom, vacation is yours to manage. unnecessary action hero: not to mention benefits, scheduling, payroll. it's hr in the palm of your hand. dad: wow. unnecessary action hero: ask your employer about paycom. and make the unnecessary, unnecessary. dad: approved! >>> a lot of headlines to break down in the streaming space today. netflix reporting tonight. screenwriters reportedly voting to authorize a strike against studios in hollywood and this bull call this morning on our parent comcast atlantic upgrading to overweight, calling out some potential m&a upside joining us to break it down, ben silverman. it's great to have you back. welcome. >> t

cnbc's seema mody joins us now with the details. good morning. what did we learn from this report?rve's preferred gauge on inflation is the personal consumption expenditures price index. it dropped to 4.2% in march from the 5.1% in february. so, it is a welcome sign as higher inflation, of course, has driven the fed to aggressively raise interest rates over the past six months. however, it is still above the central bank's target of 2%. so moving in the right direction, but economists argue it may not be enough to stop the fed from one more interest rate hike next week. however, it could lead to a smaller rate hike than previous months. right now the forecast is for a quarter point raise. the pce data does coincide with the gdp data we received yesterday that did show the u.s. economy growing at a slower pace than prior months. so evidence that higher interest rates are certainly curtailing spending, not to mention the recent stress we have been seeing in the banking sector. >> yeah, making everything more expensive as well. but, interesting, on the banking sector, the federal rese

option plays, jessica inscif on why the technicals are flashing a bullish signal, seema mody as well on caterpillar's latest drop we've been down throughout the day. even the pullbacks aren't of great magnitude. >> the damage is being somewhat mitigated by modest declines in the big growth stocks as well as just traditional defensives are doing okay so you know, you look at things like the russell 2000, it's ugly, it's 2.2% drop the s&p 500 is having this little bit of chop at a very logical spot, high end of the range that's been in place since last spring. you did get a little bit joef bought in the short-term you did have extreme outperformance by a small segment of stocks. so far again pretty orderly in the process. the other part of it is nothing has changed about april being positive, about the fact that sentiment and positioning are relatively defensive and cautious right here, which is something the market could theoretically feed off of. i just wonder how much erosion you could see below the sufficient sur faface, the smal caps suffering without pulling back we're trading wi

i'm seema mody this hour jury selection beginning today in the dominion voting system's $1.6 billionamation lawsuit against fox and cable tv networks. the lawsuit alleges fox and some of its hosts and executives of harming dominion's reputation by reporting false claims it was involved in voter fraud. the trial set to begin on monday >>> michigan governor gretchen whitmer signing gun safety bills establishing universal background checks for all firearm purchases and safe storage requirements this comes just two months after a shooting at michigan state university leaving three dead and five injured. >>> and california senator dianne feinstein facing calls for resignation following her lengthy absence from the senate. california rep ro k hananna competing she can to longer fulfill her duties scott, back to you >> thank you very much to our chart of the day. shares trading lower there you go, down about 1%. what do you say about this one you own this what do we make of this? >> here is the positive. the guidance was extraordinarily positive for the second quarter. and phil lebeau inter

i feel like a lot of the opportunity in these areas ebbs away >> our seema mody emailing our group as market of our markets coverage the lows of the day cat is down 5% the worst day since march 10 on track to break a six-day win streak you have, again, you've been talking about pmi, ism, you don't own rentals? deere down 4 eaton down 4.5 >> they all are. >> manufacturing has been in recession. it doesn't look to be troughing anytime soon >> i think that's one of the reasons. >> i would love to get back into these names. 38%, 39% is not a bad profit to take i like the companies but i just feel like, you're right. josh hit it. the multiples are contracting even if earnings hold up >> deere is among the highest in the space, the business model is very different they figured out the software is a service. the farmer doesn't pay the bill. the equipment is remote shutoff. it's a whole different ball game this banking shock and other reasons, these are the types of stock you need to defend your reason for owning it >> have a fun year >> and thank you in part for saying that. that's what i fe

the same on ge >> the ceo telling seema mody renewables looking to turn a profit in 2024 the stock trading at levels not seen since january of 2018 are you in at a level where you feel comfortable and you're not ready to buy more because of where we're trading? >> i've owned this for a while it's had a nice run, up 50%. i'm not inclined to chase it i'm still trying to decide what i want to do to the renewables piece. that's a real turnaround, but i think in the second half of the year that orders could actually double, orders were quite strong this quarter i think there is some upside to that piece of the story, but overall aviation is really just a gem and it's just getting to be a cleaner story >> josh, do you have a take here on general electric? >> i don't stephanie is definitely the ax on this stock for our show, but i would point out to the extent that ge is susceptible just to the global economy and obviously some of the big drivers there, health care spending, energy, et cetera, those are really, i think, areas that people are not specifically worried about right now from a macro p

. >> that's why the jitteriness on both sides >>> let's get a news update with seema mody. >> here'st's going on at this hour. f finland becoming the 31st world of the biggest security alliance nato has now doubled its border with are ush sha finland's membership shows a strategic and political blow to putin. >>> the s.e.c. is suing the founder and college financial platform frank related to the company's sale to jpmorgan in 2021 former ceo is accused of defrauding jpm by misrepresenting the number of users on her platform and creating fake accounts it was shut down in january and the two parties traded lawsuits alleging misconduct. the justice department announced criminal charges against her. >>> voters are heading to the polls today in chicago in a runoff election for mayor. progressive brandon johnson has racked up support from bernie sanders and elizabeth warren while moderate paul vallas won dick durbin's endorsement and endorsed by chicago fraternal order of police. outgoing mayor, lori lightfoot, lost in first round of voting in march. >>> after the break, a rare bearish take

(vo) verizon >>> i'm seema mody a string of tornadoes ripping through the country in recent weeks marks of the busiest starts to tornado season the national weather service reporting at least 478 tornadoes this year across 25 states as of wednesday. experts say the increase in storms was fueled by a warmer than usual winter across the south. and honda recalling more than half a million cr-vs 2007 to 2011 in cold weather states due to safety concerns around road salt accumulation. corrosion from the salt could cause suspension issues or parts to detach in older models increasing the risk of a crash impacted owners will be notified by mail beginning may 8. a parent of air jordans worn by michael jordan himself are about to set a record. sotheby's is auctioning off the shoes worn by jordan in the 1998 nba finals and they already have an all-time record break offering of $1.8 million the shoes signed by jordan are part of an on-going sports auction including shirts worn by pele and a ball from the super bowl winning kick. >> a bat used by babe ruth the market is still amazing. seema, thank

. >>> time for a news update with seema mody >> here's what's happening at this hour.resident biden planning to sign an executive order to expand on his administration's environmental justice goals today. the order will focus on delivering clean air and water to communities nationwide and establish a new office of environmental justice to coordinate efforts across the government biden is scheduled to deliver on remarks about the executive action this afternoon. >>> 15 million in gold and other valuables were stolen from the toronto airport on monday. canadian police are investigating after an air cargo container carrying the valuables vanished from the airport. they said it was transported to a holding facility as per normal procedure, but how it disappeared remains a mystery. >>> and "the wall street journal" reporting that apple is working on a journalling app that will let users record their daily activities and thoughts. the app will compete with existing software on the market like day one the move highlights apple's continued push into health care and interest in

. >>> time for a cnbc news update with seema mody. >> here's your cnbc news update at this hour one dayer house speaker kevin mccarthy met with the country's president in california of taiwan, a u.s. delegation of lawmakers visiting taiwan today led by house foreign affairs committee chairman, michael mccaul the group will meet officials amid growing tensions between washington and beijing representative mccaul says they hope to harden taiwan from the chinese mainland. >>> the foreign minimum centers of saudi arabia and iran meeting for the first time in seven years. it follows a landmark agreement between the two nations to re-establish diplomatic relations under the mediation of china. iran and saudi arabia are planning to reopen embassies and diplomatic missions with each other. >>> and back in the u.s. democrat robert f. kennedy jr. is challenging joe biden for the democratic nomination in 2024 for the presidential election. the anti-vaccine activist and a member of one of america's most famous political families filed a statement of candidacy on wednesday. he is the nephew of rober

. >> seema mody, thank you very much right now we also want to get back to what's happening with eamonaction from the courthouse here in manhattan. eamon, what can you tell us about the latest here? >> we've now got a live look inside the courthouse. we just saw donald trump walk in a few moments ago. you see a mix there of federal and local law enforcement. you see courthouse security, nypd of course, u.s. secret service, all working together in that area. a number of different security agencies the former president of the united states we are told will be fingerprinted he will not be handcuffed. there is no expectation that we'll see a mugshot from him but the reason we're going to linger here on this shot for a moment or two, dom, is because we expect there's a possibility that the former president will emerge from that set of doors there and make his way into the courtroom for the anticipated 2:15 p.m. hearing. if he does go through those doors, he will come by the camera we are looking at now that is a network pool camera which means all the different networks around the country h

i'm seema mody and here's your news update at this hour authorities in missouri are reporting multipleover a tornado that tore through the southern eastern part of the state this morning local police have not released an official death toll, only saying in a tweet that injuries and fatalities are confirmed this comes as more twisters are expected across the region >>> two democratic senators are sending letters to 27 ceos, demanding responses on their company's compliance with labor laws democrats alex padilla of california and john hickenlooper of colorado said they are concerned about labor exploitation of child migrants according to the labor department, there has been a 69% increase in the number of children working illegally >>> and king charles iii's wife has been officially identified as queen camilla for the first time until now, she had been described as queen consort and buckingham palace used the new title on invitations for the monarch's may 6th coronation carl, back to you. >> seema, thank you very much. >>> a couple hours into trading here let's get post-to-post with bob

. >>> i'm seema mody nato secretary general jens stoltenberg spoke with reporters ahead of a meetingato allies have agreed that ukraine will eventually become a member of the alliance but the main focus for now is to ensure that country prevails against russia. >>> sources telling nbc news federal prosecutors are considering charging hunter biden with four possible charges. they include two misdemeanor counts for failure to file taxes, single felony count of tax evasion and a charge related to a gun purchase, a potential felony the decision on which charges to file if any will be made by u.s. attorney david wise appointed by former president trump. >>> and conservative talk radio host larry elder running for the republican nomination in 2024. elder made his first bid for public office in 2021 when he saw to replace democratic california governor gavin newsom in a failed recall effort. elder joins a growing list of republicans that include nikki haley, asa hutchinson and former president trump. >> thank you we are an hour into the trading day. let's get over to bob pisani now and see

. >>> seema mody with your updates.ree-day visit to china both leaders have agreed that nuclear weapons should not be used in the conflict but president xi has refused to criticize russia for its actions. >>> meanwhile, in macron's home country, demonstrators continuing to take to the streets. this is the 11th day of nationwide strikes and demonstrations across the government's plan to increase the retirement age by two years to 64. talks between trade union leaders and prime minister borne ending without a breakthrough setting the stage for protests to continue. >>> back in the u.s. the lsu women's basketball team is celebrating their first ncaa championship with a parade on campus the tigers beating iowa by a score of 102-88. the game made history by the most points scored in a women's national championship. melissa and mike, back to you. >> thanks very much. >>> just about an hour into trading. major indexes with moderate losses let's get to bob pisani. >> third day in a row the s&p is to the down side there's good n