Weeks. Nasdaq is leading those three indices up more than 2 so far this week. One stock helping to lead the dow higher in yesterdays session was walmart. That stock surging 7 to new record highs after seeing a strong earnings report. Checking in on the bond market as well with the tenyear hovering at its lowest level in roughly a march and its ticking slightly higher this morning 4. 385 . Twoyear note 4. 782 . Oil prices u. S. Bench prices and wti prices continuing to hold below that 80 dollar per barrel mark and down 1. 17 to 79. 12. Ice brent up to 83. 62. With all of that in mind, lets see how europe is shaping up as its trading day is in the early stages and lets look at the early Market Action across the pond. Good morning. If looking for a mixed market as mix as they come. Stocks going in different directions. Again, earnings news seems to be shifting things along and seen record highs for the overall european market. Even the market then out of the uk ftse 100 managed to reach record highs than in previous sessions but, yesterday, not doing too well and today following in that trend a third of a percent weaker and erpgs picture is looking towards that. Numbers are coming out unpack those in a bit. Smi out of switzerland up around twothirds of a percent and because of a stock we will show you in a bit. Overall, this is what is moving things along quite significantly. Technology stocks have gone down 1 and Construction Material the big decline across europe so far. Teleconis moving high on the back of bte sitting higher with banks a quarter of a percent to the good. I showed you the smi earlier moving high. Swiss Luxury Group Richemont is a reason for that uptick and 1 decline in Fourth Quarter sales and still in ahead of expectations in the market. The Company Also Announced the reestablishment of its ceo role that is appointing the current coo van cleef to that position. Nearly 5 higher there. Those are the moves across this friday of trade so far in europe today. Thank you very much. Back to the markets here on the u. S. Shores. Dow hitting the 40,000 mark in the way of that cooler than expected Consumer Price index report despite the slight progress on inflation and several fed officials yesterday making the case for higher Interest Rates until more indication that inflation is easing toward the Central Banks 2 target. And Blackrock Rieder telling cnbc about the ding stocks could take if that were to happen. If we start to get numbers that show acceleration and service inflation, then yeah, it gets concerning and the equity mark could dip on the back side of it . For sure. I think durability of your ability to generate return and the technicals will push the market higher. With that in mind janet is joining us head of Market Analysis of the state of play for inflation right now is one where everybody has to remain cautious but i wonder why traders and investors dont seem to be fazed at all about the threat that inflation could possibly pose in the coming months . Thank you for having me. I think several reasons. I think we got the confirmation that inflation is actually okay is still heading in the right direction. I think the acceleration as long as we are not talking about a huge acceleration of i think that is fine. I think reasons why we are still optimistic that inflation will slow down. Look at the rental market and leading indicators suggesting it will invest the biggest component on cpi and you got a labor market and labor is slowing down nicely. And pc is slowing nicely. So i think the markets are still, in general, expecting, you know, over six months time inflation will be heading toward the two and also i will say historically, if we are 2 percentage point of inflation is actually a sweet spot for equities. As long as we dont get a big shock in inflation, i think markets are okay with that. A sweet spot for equities, what then takes us out of that sweet spot . What would have to happen . Because there are not signs yet that anything on either end of the risk spectrum, either on the growth acceleration side or the recession side, seem to be anything close to playing out right now . Well, i think in terms of the u. S. Labor market, we are seeing more of a goldilocks play out. Of course, there are risks to that but the latest data suggests that thanks to immigration, we have got increased in labor supply and that tends to lead to eventually Slower Services inflation which everybody is concerned about. And, you know, job openings are falling. At the same time, you didnt get significant spike in the unemployment rate. So i think, overall, it tells you that we are kind of in that that sweet spot environment, at least for now. Overall i think the markets are worried about like a sizeable acceleration that would be very bad. I would agree to that. But i think if we dont see, say, 2 inflation very quickly, i think as long as we are having roughly heading in the right direction, i think markets keep on rallying. Finally, janet, if those assumptions that youve laid out are all going to come to fruition hypothetically, how does one position the portfolio . Is it stilted more towards equities . Is there attractiveness right now within certain parts of the rates and credit space . How exactly do you balance all of that out . Yeah. I got to say we look at the risk scenario and we have had patches in the portfolio that would protect us against, say, inflation shock. We think that an inflation shock would very likely be atr attributable to auto prices. We see the rating and worries on the rates and things like that and if we do see economic slow down and recession. We also think the high space is quite vulnerable because that is at high levels even for average rate or innovation. We actually have sharp position in that component because we think of that scenario it would probably rise quite significantly. The credit markets could be vulnerable at certain parts. Thank you, janet. See you soon. Thanks. A check on this mornings top corporate stories. Good friday morning to you. Good friday morning, dom. Good shares for reddit surging after announcing a new partnership with a. I. And shares up 14 and thil begin offering certain ai features to users and moderates powered by openai which previously announced a similar deal with google. House republicans delivering a rebuke to President Biden on israel over his decision to pause shipments of weapons to that country. Lawmakers there passing a bill seeking to force that weapons transfer, the white house has said the president would veto the bill if it passes congress. The democratic led senate is expected to reject it. And shares of chinese property stocks surging on fresh intervention by the government there for the embattled sector. Chinas vice premiere announcing beijing will allow local government officials to buy some homes at, quote, reasonable prices to provide affordable housing. Meanwhile the peoples bank of china effectively scrapping the countrys minimum Mortgage Interest Rate while cutting the minimum down payment ratio for first time silvana henao, thanky much. A lot more to come including the one word vens tors have to know today. But first more on dow 40,000, stocks our next guest says can help your portfolio prosper. Plus shaking up the shipping industry. We talk to the ceo of one Company Looking to take trucking into the future. And later on, your mornings big money movers and one chip maker seeing shares get crunched on the back of earnings. We have a very busy hour still ahead. Welcome back. The annual cnbc disrupter 50 list is out. Shining the spotlight on startups advancing break through technologies such as ai and autonomous vehicles. At number 19 on this years list is the Swedish Based Company that has been shaking up global trade in shipping for nearly a decade. Just this week, they announced a partnership with dp world to Start Building what it aims to be the Worlds LargestAutonomous Trucking Network in dubai. Joining us now is their founder and ceo. Robert, this is a fascinating story because it takes us into the next generation of transportation. It may not be people, but it is goods. What exactly is so special about the story given everything that weve seen around ae ii in the t couple of years . Great to be here. What were trying to do with einride is shape the future and transports. Biggest Business Opportunity for both ai and autonomous is transport of goods. People love their cars. But when it comes to goods, it is an incredible Business Opportunity. And it will give us more sustainable and more competitive transport. And literally reshape the world. The leelectric trucks are something that were somewhat familiar with here in the u. S. But for your company, it is about bringing some of the attention towards many other companies out there. We just talked about the partnership you guys have inked. Who are your customers and how committed are they to this type of technology . Our customers are the shippers, the people who want to transport goods, people who want access to digital electric and autonomous technology. We have our biggest market is actually the u. S. You have great customers like appliances in the u. S. And for us it is about dedicating and giving them a competitive pricing. And quality services. And our commitment for our clients is huge. And this is not driven by one of the grade side effects is that it is driven by access to technology and long term cost competitive transport. Commercial evs are just the first step for you guys. How much does autonomous trucking factor in and how do you prepare for that and fund for it, what kind of rmd and money has to be spent to make autonomous trucking a reality in say the next five to ten years . For me it is already a reality. We are in north america and europe and this is a gradual change. It will be driven by the Business Case itself. It is about finding scaleable models and that is why they are focusing and working closely with the customers. But when others have been focusing on the rmd aspects of this future technology, weve been focusing on taking a graul approach working with real commercial use cases and taking increasing complexity on when it comes to autonomous. Bottom line, this will be driven by the Business Case and the business underlying if it can have a good market fit. And that is what has been number one. Now we can do the rmd, commercial applications because we have the demand, we have the customers and also the investors for it. Robert, thank you very much and well see you again tonight, sir. Thank you. And you can see the full disrupter list for cnbc on cnbc. Com. Head there to see some of the worlds most propping private companies. Still ahead here, show me the money. The companies that could still be in the race for billions from the chips act funds still up for grabs. At morgan stanley, old school hard work meets bold new thinking. laughter at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. Old school grit. New world ideas. Morgan stanley. traffic noises the road to opportunity. Is often the road overlooked. at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. Because we believe the more ways we all have to move forward. The further well all go. Glp1 drugs used in weight loss treatments are a global blockbuster, even with unliked and inconvenient injections. More human Study Results for lexarias patented oral Delivery Technology are coming soon. Lexaria bioscience. Welcome back to worldwide exchange. Time for your big money movers. Take two interactive is under pressure down by 2. 5 as they say grand theft auto 6 will not be released until the fall of next year. Take two is also reporting Fourth Quarter results that Beat Estimates but cutting the booking forecasts for the coming fiscal year. Cracker barrel is foulllowi as they say third and Fourth Quarter results are below forecasts. The Company Plans to invest hundreds of millions of dollars in overhauling its restaurant chain and updating its overall brand. Shares down 11 in extended action. And shares of Applied Materials are lower despite reporting better than expected Second Quarter results. The chip equipment maker forecasting Third Quarter numbers above estimates but it failed to meet investors hire expectations. Applied materials making the stuff that make computer chip, down 1 in premarket. Lets stick with that theme. Hundreds of companies are still vying for a piece in the chip act funding. Megan, where will we see the remaining money going . Thats right, there is just about 6 billion left to dole out. Some 33 million has already been allocating mostly to intel and samsung and congress has set aside 500 million for what is left for the smaller supply chain companies. Mike schmidt tells us that the focus for the remaining funds is going to be on sending smaller awards to dozens of Smaller Companies. Some will be legacy chip makes and others will be all along the supply chain. So the goal now is to provide grants for equipment and material suppliers on one end, all the way to packaging facilities on the other end. Commerce hopes this will make production more sustainable over the long term. Once we begin to rebuild the scale that we expect to see in this country, i think that that will create ongoing investment dynamics and continue to make it attractive for companies to invest in the future. One company competing is iqe, a uk based company that produces what is called compound Semiconductor Wafers for Companies Like apple. He says it is crucial to fund the materials that help the chips work. So compounding is the core of the infrastructure. Without compound, there is no smartphones. Without compound, there is no 5g. Without compound is no ai. And experts say funding is key it supplying a u. S. Supply chain that can actually last. So is thatthat is one factor at. And the final stretch here. Besides iqe, if these smaller awards will be doled out, will we know the Companies Left getting the money and who is in the running to actually get some of this money besides iqe and the names we havent heard of yet . Right. Ive been talking with sources about this, i think that well have heard of some of the companies. I mean, Texas Instruments is sort of more of a legacy chip maker making those analog chips. They are liking to get an award. You mentioned Applied Materials before this, and they are in the running to probably get an award as a supplier. They are being talked about global wafers is another one of those big suppliers, apparently there is a lot of interest there. So making a similar type there. And Analog Devices is another chip maker like Texas Instruments. Other than that, those are some that maybe not be familiar names, but beyond that, would he like lig ly to get into Smaller Companies we havent heard of and well be watching them. Megan, thank you. And now a check of shares on hong kong trading after a bloomberg report that hsbc largest shareholder is weighing its options to reduce its 8 stake in that lender. R ara sla similato tde revealed last week. Frgs imilar to a trade revealed last week. Frgs norman, bad news. I never graduated from med school. What . But the good news is. Xfinity mobile just got even better now, you can automatically connect to wifi speeds up to a gig on the go. Plus, buy one unlimited line and get one free for a year. I gotta get this deal. I know. Faster wifi and savings . I dont want to miss that. Thats amazing doc. Mobile savings are calling. Visit xfinitymobile. Com to learn more. Doc . It is 5 28 a. M. In the new york area and still a lot here on worldwide exchange. Here is what is still on deck. The dow looking to recapture the 40,000 mark after crossing the mile ste stone for the First Time Ever. But pressure to get back there. And were digging into the moves to capitalize on the next leg higher. The stocks our next guest says your portfolio can use to cash in. And copper prices are spiking to their own record levels, but big bets by short sellers are potentially setting up a metals metaldown. It is friday, may 17, you are watching worldwide exchange. Welcome back. Im dominic chu in for frank holland. Lets pick up the big story of the morning which is the dow a whisker away from the 40,000 mark, althoughthe average did take out the milestone before closing lower in yesterdays session. In all it took the dow about 3 1 2 years to go from the 30,000 mark to the 40,000 mark. As you can see there in the time line. And in that frame, four dow components have doubled in value. That includes the likes of American Express and goldman sachs, 103 gains and 107 gains there. And also caterpillar and michael. Microsoft. And so four doubling in value in that span. Lets see where we stand with futures. Dow implied slightly lower. Down about 8 points. Relatively unchanged. S p down about one and nasdaq by nine. The dow not the only inddex hitting fresh records. Our bob pisani has more on what is driving the rally and if the momentum can hold. Now that the s p 500 and most major indices are at or near historic high, you can expect the wrath of earnings and year end price target revisions from wall street strategists to be coming very soon. Why .