Bros. Discovery. Its thursday, may 9th, 2024 youre watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. We are live from cnbc london lets get you ready for the trading day ahead with the stock futures. After a mixed session yesterday with the dows longest win streak at six. The futures are in the red across the board close to session lows right now. It looks like the dow would open up 65 points lower we are checking the bond market with the tenyear yield moving higher than recent days. 4. 51 . The twoyear note is Holding Steady to yesterday which is at 4. 85 . We saw it at 5 a few days ago the Energy Markets here are lower. We are looking at wti below 80 a barrel it is up 1 right now. Brent crude is trading at 84. 25 up 1 as well. Thats the set up. We have the big day for earnings and movers we start off with the stock that people are watching. Arm Holdings Shares are sinking on the weak forecast which is raising concerns of the potential spending slowdown for Artificial Intelligence after the chipmaker revenue grew 47 the Ceo Jensen Huang remained positive yesterday i love arm. I love arm to this day everybody realizes what a great franchise it is here look, it would still be a great franchise inside nvidia and still putting a pitch out there. Kidding. Its a Great Company i love working with them theyre great for the world. Arms Ceo Rene Haas will join squawk on the street today disappointing guidance for airbnb it is experiencing robust demand for travel ahead of the peak Summer Season especially with the olympics it expects Third QuarterRevenue Growth to accelerate with the Summer Travel backlog. For more on that quarter, catch a first on cnbc interview with brian chesky at 9 15 a. M. And klaviyo with upbeat guidance after the strong 2024 as it invests in durable growth. Lets get a check of the other top corporate stories with Silvana Henao at cnbc hq good morning, frank disney and warner bros. Discovery are teaming up to bundle services. The Company Announcing an option to combine disney plus with hulu and max. Disney and warner bros. Saying the service will be available this summer, but did not offer details on pricing other than there would be both ad free and ad supported options. The New York Times is reporting if Sony Pictures and an pollo deal could include a breakup of paramount that could include selling off the cable channels and streaming ser service. The new owners would keep the movie studio. Bloomberg is reporting the valuation for the elon musk Artificial Intelligence startup is near being 18 billion. The figure coming as xa. I. Is set to close the latest round of funding. The report adds while the size of the funding round hasnt been completed, xa. I. Was expected to raise 6 billion with firms like sequia getting in. Frank. Thank you. The bank of england is two hours away from the latest Rate Decision silvia is here with more and the preview. At this stage, we are not expecting the bank of england to announce any changes to the rate policy for the time being. Investors will be looking closely at the comments from the central bank of course, theres a lot of questions about the timing of when we might see a rate cut in england. They are looking at the markets potential for the rate cuts. For the meeting in june, a 43 chance investors will see a cut then if you look at sugaugust, the chances increase to 73 . When thinking about what brokers are pricing in for the rest of the year in terms of rate cuts, these are some of the pre predi predictions. Bank of america and nomura are pricing from 50 basis points of cuts lets see what will end up happening, frank, no doubt with focus on what Andrew Bailey has to say later today our Steve Sedgwick will have a chance to speak to the governor. Lets see what indications we get from the bank of england with potential rate cuts today silvia, you have been doing a lot of reporting on this story a cut expected some time soon. I had a guest on earlier who believes it will happen in august analysts and economists are looking at the pound dollar. The dynamic with the two of them if there is a cut. Ahead of the bank of england meeting, investors are negative with the outlook for sterling. We have sterling dollar at 1. 24. This is significant because some people actually expect further weakness when it comes to sterling as we are likely to see a divergence with the rate cuts when you compare the bank of england and the fed. At this stage, it is important to understand what we hear from the central banks, but some are predicting we might see parity reaching cable here. A lot of talk in the recent days silvia, thank you. We turn attention to the developing story in the middle east with President Biden looking to draw a red line on israel with the ground war in gaza and the future of the Financial Support from the United States. Dan murphy has more from dubai on this story. Dan. Reporter frank, good morning. These are the strongest comments President Biden has made to israel yet the president has made it clear that the United States will stop sending bombs and artillery to israel if it goes ahead with the major invasion of rafah where more than 1 million civilians are sheltering that is putting pressure on israel and aimed at criticism at home after the president acknowledged for the first time that american bombs had been used to skill civilians in gaza the United Statesartillery it will review others. Israeli officials are playing this down. The u. S. Says it will be supplying israel with weaponry to protect itself. The president told cnn that israel has yet to cross a red line in rafah. We have energy and oil prices in focus, frank, as well as the ceasefire talks continue. We know hamas will not make further concessions to israel here after we saw israel also pushing back on the latest proposal that was put forward this week. Both sides ultimately blaming the other for the stalemate and no deal means the geopolitical risk premium for oil in tact back to you. Dan, thank you very much for that report. We have more to come on Worldwide Exchange, including the one word that investors need to know today. Our first guest lays out the case for the chinese ev maker in what has become a game of survival in china when it comes to evs. And later, a cnbc look at the plan to help fight the climate shift with diana olick outside reykjavik. This is the largest Carbon Capture plant. It just went online here in iceland. There are World Companies involved here. Wel veorcongp lha me mi uon Worldwide Exchange. Edding would be too much . Nahhhh. inner monologue another Destination Wedding . . We just got back from her sisters in napa. Who gets married in napa . My daughter. Who gets married someplace more expensive . My other daughter. Cancun jamaica why cant they use my backyard with empower, we get all of our financial questions answered. So we dont have to worry. Can we get out of here . I thought youd never ask. Join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. Empower. Whats next. You ready . Showtime. With a real time dashboard andthis is gonna be epic. Ns. [ barking ] its what the poster said. Do you want to make out or . Nope. I meant yes. Hes a bon garcon. I give amazing spongebaths. Can i get a room . [ chuckling ] chefs kiss. Welcome back to Worldwide Exchange. The ev landscape is set for a shakeup as zeeker will set for the ipo tonight and start trading tomorrow earliest estimate its are valuing the company at 5 billion. This as nio is launching the lower price brand on may 15th with the first car aimed at challenging elon musk. This could not be coming at a more challenging time for the sector in china with the analyst saying tit is a survival game. Shares are down sharply across the industry year to date, but it is a mixed picture. Joining me now to discuss is tim higgins at the wall street journal. Tim, good morning. Great to have you join us. I want to jump into this one an odd time to launch an ev ipo. What do you think investors view this company it is interesting a year ago, the thought was the company may raise more than 1 the billion. Now clearly that is not the case because where peoples minds are with the market in general the one bright spot for evs is china as you pointed out, it is a fierce come pe sigpetition amg brands and capacity and a price war that has even hurt the likes of tesla which would have been hard to imagine 18 months ago. You know, you talked about that interesting point geely is a backer of the company and zeekrs filing is china risk they are a Chinese Company with regulation from the government and regulation from the price war. Is there anything to differentiate them with the price pressure geely is an important and interesting company. For western investors, this is a potentially interesting way to get into that Chinese Market and way to invest in some of the dpr growth over there. The china market is the bright spot for evs despite the challenges if you look at the u. S. Market, automakers are looking at a slower adoption of evs than just a few years ago. They were thinking this would go like gang busters. You look at the u. S. Customer and they tend to go to hybrid technology which is surprising a lot of people. Not surprising toyota or ford who are making that dual bet if you are chasing evs in the u. S. , it is not robust china is the place to be if you are going after this technology for a lot of reasons a lot of reasons there. I want to turn back to the u. S when it comes to ev adoption, we see enterprise adoption with amazon and rivian and u. P. S. And rival companies. Why dont we see more adoption ford sold some to the post office why arent we seeing more of that with the kch companies as opposed to consumers there is an interesting case that is being made for commercial not just when you talk about cars or delivery advance, but those semi trucks as you see tesla getting into that area with their semi. One issue here is batteries. You need a lot of batteries in order to haul all of this. That is a potential, but it is a slow adoption for all buyers out there. Tim, here is a big question where are we with price pressure with he evs . Is there more of a race to the bottom here or have we reached the bottom with the pricing on the evs . Byd is an Impressive Company on what it has been able to do on pricing part of the reason why musk seems to be signaling he doesnt want to get into a race on cost with his next generation evs and why he is focusing more on developing or putting exicitemet on Autonomous Car with the software business. This is the challenge for the industry and why western automakers seem to be nervous about the future of evs and this idea that maybe the chinese have won on costs and it is going to be a race to the bottom. There are several reasons they have the advantage with the Battery Technology which occurred in china on the supply chain. Tim higgins, thank you very much coming up here on Worldwide Exchange, the art markets 1 billion test and how sothebys plans to test the limits on the sector stay with us vering magic. What is cirkul . Cirkul is what you hope for when life tosses lemons your way. Cirkul is your frosted treat with a sweet kick of confidence. Cirkul is the Effortless Energy that gets you in the zone. Cirkul, available at walmart and drinkcirkul. Com. Welcome back to Worldwide Exchange. Look at the futures this morning. The dow would open up 80 points lower. S p and nasdaq are lower as well lets look at the laggards on the dow which is pushing the index lower. You see intel and amazon and apple on the list. Highend art market is set to face a test in the coming days was it deals with falling prices robert frank is joining us with more on what is plaguing the market robert, good morning good morning, frank this is the biggest sale if n t art market 1 billion is set for the market next week. That is down from last year. Auction sales fell 18 in the First Quarter. You have contemporary art which is the big money maker which plunged 48 in the First Quarter. Dealers and collectors telling me the market has stalled over price. Buyers want a discount and sellers want a peak back to 2022 the market is often defined by the supply thats available were seeing what people perceive as a smaller offering this season. A piece called event is estimated at 30 million the top artist of the week is the collaboration with warhol estimated at 18 million which sold for 2. 7 million. That is a big return for that seller this portrait which is called the italian version of popeye which has not been seen in 20 years is estimated at 30 million. For more on the art market and where the wealthy are investing and spending their money, check out the inside wealth newsletter at cnbc. Com wealth or use the qr code frank. The last one was interesting. I have two questions for you does the american popeye have pork in his diet some hag the thing over the prices is this a sign of weakness with the wealthy consumer not really. What is interesting about the art market right now is the Auction Markets is weak, but the private market where people are buying and selling outside of the auction is very strong the wealthy have a lot of money and cash and they want to buy what they want to buy, but sellers dont want to put a piece up for auction and not sell the problem right now is not the buyers there is demand. The sellers dont want to sell into the market because they are stuck on the prices of 2021 and 2022 which is an unrealistic peak here. It is a question of when sellers get realistic about prices. Luxury spending here in europe is strong one of your Companies Reported today. Shares up 1 for feragamo. Robert, thank you. As we head to break, we are watching shares of equinix it tops the quarter. Worldwide exchange back after this h customer demand. In real time. jen so we partner with verizon. Their solution for us . A private 5g network. ella we now get more control of production, efficiencies, and greater agility. marquis with a custom private 5g network. Our customers get what they want, when they want it. jen now were even smarter and ready for whats next. vo achieve enterprise intelligence. Its your vision, its your verizon. Wall street forecasts over 100 billion in sales for weight loss drugs known as glp1. Even with unliked and inconvenient injections, dehydratech processing of a glp1 drug demonstrated improved blood sugar reduction and reduced side effects. More human Study Results for lexarias patented oral Delivery Technology are coming soon. Lexaria bioscience, transforming the future of glp1 drug delivery. And theyre all coming . Those who are still lexwith us, yes. Ce, grandpa whats this . Your wings. Light em up gentlemen, its a beautiful. Day to fly. It is 5 30 a. M. In the new york city area and 10 30 in london there is more ahead on Worldwide Exchange. Heres whats on deck. The dow is looking to do something for the First Time Since february however, futures are pointing to pressure. Nvidia is looking for the Seismic Shift in the tech space as the stock continues to move higher we will dig into the numbers. And beyond meat leaving a bad taste in consumers mouths. It is thursday, may 9th, 2024. Are you are watching Worldwide Exchange here on cnbc welcome back to Worldwide Exchange. Im Frank Holland coming to you from cnbc london we pick up the check on the st stock futures. Futures are at the session lows for the dow opening up 90 points lower. Turning our attention back to the markets. The dow is on pace for a fourth positive week in a row since early february we are checking the bond market with the tenyear yield at 4. 51 . The twoyear note is the same level as yesterday at 4. 885 the oil market is at the lowest level since early february wti this morning is up. 50 . Brent crude is up. 50 thats the set up. Lets get a check of the big money movers with Silvana Henao. Good morning, frank shares of robinhood popping in the premarket the retail brokerage reporting record earnings for the First Quarter led by 126 million in revenue from crypto transactions that part of the business is currently facing regulatory uncertainty after the s. E. C. Sued robinhood over Securities Violations the ceo vlad tenet remains optimistic we are growing wallet share and expanding internationally. Meanwhile, solar edge is sinking on another disappointing quarter. Shares down 8 in the premarket this is while revenue expectations beat at 204 million. It pales in comparison to the 1 billion achieved less than a year ago largely because of weak demand and excess inventory and lower margins. Guidance is light at 250 million to 280 million. Shares of beyond meat are falling. Revenue dropping by 18 marking the eighth straight quarter of declines the company says retail demand is soft despite deep discounting. Ceo ethan brown says this is in the early stages during a pif pivotal year i still dont like beyond meat. Is there any you do like . No. I tried them it is not beyond meat you are singling them out because were talking about them. I tried several dont like them. All right everybody has an opinion Silvana Henao. Thank you very much. Switching gears. Now is time to get on the a. I. Train. The declaration from jensen huang speaking out with the avatars to speed customer service. He spoke with your jon fortt and talking about the switch Interest Software to digital intelligence. Were going through the single tgreatest platform shift in the history now were going through two at the same time. He did not comment on nvidias business ahead of the Company Earnings two weeks from now. Shares are up 88 080 this year. The question now is is the valuation too rich for some . Lets bring in our guest, alec im looking at nvidia trading 24 times forward earnings is it too highly valued . Hi, frank great to be with you to correct your math because the details matter to answer your question nvidias in the fiscal 2025 year now. The street is looking for 26 of earnings next year, calendar year 2025 is their fiscal 2026. That is 31. The pe on 2025, the forward number, is actually 31, not 37 we think given the growth that they have been putting up as they have been growing 80 a year for a true 1 trillion company, 80 growth is hard to keep up year over year that is expected to grow to 20 and high teens there safter. Microsoft, for example, has the midteens growth and trades at 30 times people dont seem to be as worried about valuation. I think the valuation is not cheap, but certainly not in nosebleed territory the market is anticipating nvidia to remain a dominant company, but the growth rate will slow from the rule of large numbers over time. Okay. Ale alec, correction is not punishment our data team is hitting the calculation right now. We appreciate some more insight. I want to play the other side of this is it possibly under valued . When you look at microsoft, the way it increased its cap ex spending and meta and amazon, we dont know where the cap ex could go is it undervalued with the money these companies are willing to spend to get a. I. Capabilities it is easy to say its not undervalued, but every time nvidia reports earnings, it turns out to be uhugely under there undervalued. We believe they may run out of room with the numbers they have crushed the last few quarters. I would not call it wildly under undervalued. I think you can make healthy returns and beat the s p from that perspective, it is undervalued. Relativive to the explosive mov, i dont think you should expect that the next couple years lets talk about the nvidia position every company, including the hyper scalers, want to get the chips to go into the a. I how big is nvidias moat is amd a rising competitor with nvidia, the moat is wide they are still garnering over th 80 of the gpu chip sales. Everyone wants the latest and greatest chip. The n100 is not coming out until next year. It is them making chips as fast as people want them and in terms of innovating quickly enough and supply chain issues. The demand is extremely strong for nvidia all of the issues with how much they can monetize that and how much revenue they can squeeze out of that is how quickly they can meet that demand especially around potential supply chain snags. In terms of competitors, we just got guidance on the data center from amd a week ago. They are guiding to 4 billion to 5 billion next year. To put that in perspective, nvidia is doing 80 billion. Amd is a Great Company they play in a lot of places besides the data center like the pcs where you dont see nvidia with a bigfoot print in the datan center gpu market, they are still a distant competitor to nvidia alec young, thank you for more nvidia, head to cnbc pro. See when shares rise coming up here on Worldwide Exchange, getting an up close look at one facility helping in the fight of rising temperatures diana olick is taking us inside the largest Carbon Removal plant in the world diana. Frank, this plant is sucking carbon out of the air at a record pace. We will tell you who is behind itnd a which u. S. Companies are buying in. Thats coming up next on Worldwide Exchange. Welcome back to Worldwide Exchange. The u. S. And china coming together in washington as the climate envoys are looking for Common Ground to combat rising temperatures one company tasked with Carbon Capture is in iceland. We have diana olick with more. Over to you. Reporter good morning, frank. This is the newest and largest direct air capture plant in the world and it is from climeworks t. Climeworks one sixth is operational it will be complete by the nd of the year this plant will remove 30,000 tons of carbon per year or about 7,000 gaspowered cars steam is used to separate out the Carbon Dioxide that is pumped into the soda stream and piped into the ground where it becomes rock. This is just the beginning every three years, we build a plant that is ten times larger than the year before we will be at millions of tons if we look at how other industries have scaled up, we can reach billions of tons by 2050 reporter climeworks entered the u. S. Market thanks to 500 million thanks to the department of energy it is one of 78 companies from startups to names like exxonmobil the client roster is wide. These companies are purchasing Carbon Removal at 1,000 per ton. The expectation it will eventually drop to 300 per ton. It has sold onethird of the capacity before it is finished these capitals for the companies and when they scale up, it brings the cost down. Reporter congress appropriated 3. 5 billion for regional direct air capture through the infrastructure law millions more coming from the funds like bill gates Energy Capital project and the chanzuckerberg foundation when you add in the supply chain to the technology, he said once scaled, this could be a 1 trillion frank. Diana, very interesting story. You saw the big Companies Involved with this company we know that this plan is designed to fight Climate Change how is it being powered . Reporter interesting you should ask, frank. If you look over there, that puff of smoke is geothermal. There are massive pipes pumping in the Geothermal Energy that is hot steam coming into the plant and converted to energy to run the facility it is easy to have geothermal in iceland because were standing on a volcano, frank. I wondered why the facility is in iceland. Diana, thank you stay warm. It looks cold there. Coming up on Worldwide Exchange, optimism on airbnb after the earnings pull back well be right back after this break. Investment bankers. Doctors. Business leaders. We see your ambition. Your desire to succeed. Which is why we are investing in your future. Empowering the next generation to reach the csuite and elevating womens golf. Because you may not always see yourself in the world, but we see you. grandpa im the richest guy in the world. man 1 i have time to give. man 2 i have people i can count on. grandma and a million stories to share. vo the key to being rich is knowing what counts. Torstein Hagen in my simple world, there are only three things that matter in human beings. First, they have to be kind. Kind. Second, they have to be honest. And third, they have to be hardworking. Its very simple. Wherever you are in the world, when you come to a different culture, you meet people of very different backgrounds, but you find out that they have the same ambitions and the same fears just like yourself. Im so sure that travel is good for the world. Its really the best to engage with the locals and the destination. And i think travel helps broaden the human mind and makes us kinder. And thats fantastically valuable. Westminstlcome back to wore exchange. Time for the big money movers. Jpmorgan chase is raising airbnbs price target as it lays the Foundation Beyond the core business. Raymond james is citing out performing comps for cheesecake factory. And Jpmorgan Chase is upgrading shopify. It sees new merchants and subscription price increases to help boost the company. Time for the global briefing the bank of england kept Interest Rates at 5. 25 last month. Chinese exports rising by 1. 5 beating expectations after contracting in the previous month. Imports showing signs of life growing more than 8 compared to the estimate of just below 5 . Spanish bank bbva going hostile taking the bid to sabadell to shareholders after the board rejected the proposal this week. The offer significantly undervalues the potential and Growth Prospects while bbva says it would create a bank with greater scale. Coming up on Worldwide Exchange, the one word every investor needs to know today and the megacap tech stock high on our guests Shopping List after a market beatdown. Well be right back after this break. Because sometimes the best road forward, is the one you didnt expect. a slow network is no network for business. Thats why more choose comcast business. And now, were introducing ultimate speed for business our fastest plans yet. Were up to 12 times faster than verizon, at t, and tmobile. And existing customers could even get up to triple the speeds. At no additional cost. Its ultimate speed for ultimate business. Dont miss out on our fastest speed plans yet switch to comcast business and get started for 49. 99 a month. Plus, ask how to get up to an 800 prepaid card. Call today welcome back to Worldwide Exchange. Time for the wex wrapup. We start with House Speaker mike johnson to defeat Marjorie Taylor greene to oust him from the role Federal Reserve governor lisa cook is warning the surge in private credit is an emerging vulnerability that regulators need to pay attention. Ahead of the friday debut, chinese ev maker zeekr is raising 367 million this as ev maker nio is launching on may 15th with the first car aimed at challenging the model y of tesla. Shares of arm holding are raising concerns the industrys a. I. Spending spree will slowdown. Disney and warner bros. Discovery are offering disney plus, hulu and max in a bundle the similar to cable tv. There are no details on pricing. The New York Times is reporting if Sony Pictures and apollos bid succeeds for paramount, they will break it up including selling off the network and streaming service. Here is what to watch today. We get jobless claims before the open and earnings from warner bros. And hyatt hotel. We get fed speakers mary daly and Austan Goolsbee speaking out today with the latest on the Rate Decision from the bank of england. Take a look at futures right now. Close to the morning lows. The dow would open up 85 points lower. Joining me now is Malcolm Ethridge malcolm, good morning from london what is the wex word of the day . Good morning, frank my wex word of the day is rational with the unknowns in the market, investors seem to be behaving rationally we are not seeing any panic selling because things have gotten too quiet and we are not seeing irrational runup of no news is good news. I feel good about how investors are responding. Investors are responding a bit to any comments from the fed. We get a pair of speakers speaking today daly and goolsbee. We had Neel Kashkari talking earlier this week saying maybe a hike is on the table i think thats very improbable i think the fed chair did a good job last week and putting fears over additional rate increases to bed there is not a possibility of rate cuts until july nothing is going to change here and unlikely to happen before september at best. There is no earnings to report for another two months there is no catalyst pushing beyond the fed speak i dont think there is a lot that will change between now and maybe the back half of the summer i think were in a good spot right now as long as nothing unforeseen jumps out i want to bounce something off you, malcolm i got data from morning star the correlation of stocks and treasuries at the highest level since 1997 how are you thinking about Asset Allocation in your portfolio i think its good in the sense that equities and fixed income have started to uncouple and move in opposite directions. It is unfortunate we are starting to look at a similar situation to 2022 where anything was moving and anything moving was moving in the same direction which brings the challenge to the 60 40 portfolio that we talked about during that year. I think it is really important for investors from a longterm perspective to recognize the disparity between fixed income and equities and expect that relationship will stay in tact long term. Specifically when it comes to bonds, as you heard people come on the show say they are looking at the short end of the curve, overall, i know you are saying it changed the landscape for the 60 40 portfolio. Do you want to lock in longer or take advantage of the high yield on the short end we are looking at the high yield on the short end we are buying more broker cds. We can still see Something Like a 5 riskfree rate of return on the brokerage cds similar to the twoyear rtreasury why take the additional risk all right i want to get to some of your picks. You didnt know this, but you are looking at one of the themes we are looking at here today your picks are meta and amazon give me a sense why you picked these names . Our love affair with a. I. Is nowhere near over. It is a mistake to think a. I. Is cooling off. At this point, i think investors are looking for places that a. I. Is going to show immediate profitability, not two or three years from now i bought the shares of meta when it sold off the earnings i think the market reacted nonsensically. There are plans to spend 25 of revenue on r d that is what they should be doing. I support that plan. We will find a. I. Improves add targeting soon here and i guarantee advertisers will pay up well for the enhanced targeting. You like the ad business. It is something we talked about quite a bit on the show. You believe it will run a run rate similar to the cloud base we are having conversations on a regular basis how about aws is ceding ground to google tclou and azure. What is understated here isis Digital Advertising could carry the water for the rest of the company. The margins are significant that they dont have to have it be their Main Driving Force like ecommerce or cloud today at a 50 margin, that business did Something Like 47 billion in 2023 alone. I have a feeling they will blow that out of the water this year and that will carry the business regardless of what happens with the cloud unit and ecommerce malcolm, great to see you amazon and meta are your picks today. Thats going to do it for us thank you for watching Worldwide Exchange. Squawk box starts right now. Good morning House Speaker mike johnson surviving the vote to remove him from power and the speaker will join us live from washington President Biden saying the u. S. Is cutting off weapon shipments to israel if its military fully invades rafah. And google employees want to know why arent wages rising in line with the strong Revenue Growth its thursday, may 9th, 2024 and squawk box begins right now. Good morning welcome to squawk box here on cnbc we are live from the Nasdaq Market site in times square. Im becky quick along with joe kernen and andrew ross sorkin. This morning, we are looking at a little bit of pressure on the equity markets dow futures down 80 points this comes after the dow closed up yesterday for the sixth session in a row s p down barely yesterday as well as the nasdaq dow coming off the longest winning streak of the year it rose 172 points it is up 1 for the week to date the s p 500 closed lower by a fraction of a point yesterday. The nasdaq was down. 20 if you check out treasury yields this morning, we are still looking at the tenyear yield at 4. 51 the twoyear yield at 4. 85 . President biden saying the u. S. Would not supply israel with certain weapons and artillery sehells if its militar invades gaza he made the comments during an interview with cnn this marks a big shift in the war. The u. S. Would continue to make sure it is secure in terms of the iron dome and thei