it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5." no tuesday turn around in sight. stocks continuing their slide after kicking off the new quarter in the red. futures are lower right now. the slide fueled by the stronger than expected economic data reducing the hopes of the fed rate cut. and disney locking in critical support as the boardroom battle with nelson peltz is marching closer to conclusion. a look who is behind bob iger

and company. shares of donald trump's social media falling yesterday. the staggering stat on how much of value the former president lost in the wipeout. our look at the best ideas for q2 and beyond. the magnificent seven member our next guest says will keep delivering returns to shareholders. it's tuesday, april 2nd, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ good morning and welcome to "worldwide exchange." thank you for being with us. let's get you ready for the trading day ahead. we kickoff the hour of the check of the stock futures after the mixed start to the trading week. the dow and s&p posting the neg negative. the dow would open up 170 points lower. we will watch that throughout the morning. and the bond market with the

yields popping on the back of the pce report and hfmanufacturg data. this is more than ten basis points higher than yesterday from the pre-market. another thing we are watching and talking about during the market discussions and we are checking oil. we talked about oil yesterday with helima croft. israel carrying out a strike in the iran consulate in syria and killing two generals and five others. that is increasing concerns it could expand and impact oil supplies. wti just hit $85 a barrel. it is falling back from the level now, but up 1.5%. brent crude trading at $88.60. > we want to get a check of gold after the high of $2,264 yesterday. it will hit another record high today. gold is up more than 1%.

big ramp up in recent days. year to date is up double digits. let's see how europe is shaping up with arabile gumede in the london newsroom with much more on the early action. arabile, good morning. >> good morning, frank. it was a positive data start in europe. you actually are seeing a mixed picture. down is the spanish market .20% weaker. the ftse 100 market from the uk is the big gainer today. .25% higher. it was more than that. it was on the back of the oil price you noted which was higher at $81$88 a barrel there. w bp and shell has moved higher. the stoxx 600 is showing record numbers. out of the dax as well as the german market last week. i'm speaking about shell and bp

which means the gas sector shares are going up. let's look and see what is moving things along. 2% gain for basic resources. that means glencore is managing to move higher, frank. that's the picture right now from europe. >> that's the picture from europe. arabile, i'll see you in person next week. starting on monday, "worldwide exchange" is heading to london. we will be able to talk back and forth about the markets and everything else. keep our bromance going and wear the same color suit on friday. i'm looking forward to seeing you and the team. >> sounds like a plan. we are looking forward to it. >> it starts on monday. "worldwide exchange" in london coming up on monday. it's real. we're excited about it. we are turning attention back to the markets here in the u.s. expectations of the rate cut in june on the back of the better

than expected manufacturing data. the traders are now looking at the 58% chance the fed cuts rates at the june meeting with the odds briefly dipping below 50% yesterday. that figure stood at 53% a week ago. let's bring in ross mayfield for baird. ross, good morning. >> good morning. thanks for having me. >> we saw a pullback in the markets yesterday and yields rise as well. that is part of the dynamic there. in your mind, how much of the rally did you see as we get the fed rate cuts and we are getting as many as three and they are coming sooner rather than later? >> that is a big part of the rally. the market's resilience in the face of three or four rate cuts out of the forecast which we did in q1 as we looked to six to seven and then pare down to three and have a 10% gain and see the momentum continue is a

typical resilient move here. you need to see a dovish tilt to the fed. you need a hint to rate cuts rather than holding firm all year. if manufacturing activity like economic activity accelerates or proves too sticky. >> that manufacturing data and pce from friday with the big impact on the markets. you are looking ahead to the jobs data with the jolts and monthly jobs report. in your mind, what do these mean for the market and some of the rally that we've seen and the broadening we have seen in the market? >> i think it means everything. the fed has a dual mandate and focused on inflation entirely over the past couple years. they can't ignore the job market. they will get dovish and a hint of weakness in the labor market. we have seen cracks and normalization back to pre-covid trends in the jolts report with the quits rate.

initial claims are low. a hint of weakness in the job market will shift from the hawkish fed quickly because they are watching that mandate and the consumer spending is predicated on a solid jobs market. if that gives away, you will see the shift to the dovish tilt. the soft landish talk means that. >> you are getting some mixed information with the manufacturing data and pce. you said we are looking ahead to jobs. what is the sentiment of the market right now as we look ahead to q2? what do you see in the market? the same bullishness? what is your deal? >> bullish, but not u infor euphoric.

the survey data is bullish. not euphoric. you need bulls to propel a bull market. we're in that phase. could we see a tidy consolidation period? we could. i would say bullish and not euphoric right now. >> ross mayfield. good to see you. thank you. time for the check on the top corporate stories with silvana henao. silvana. >> frank, good morning. walt disney gaining critical support in the proxy fight with nelson peltz ahead of the shareholder meeting tomorrow. the spokesperson telling cnbc it will vote for management and it is comfortable with the team and the company. blackrock, the second largest shareholder, reportedly planning to back the company ahead of the deadline to vote.

shares of disney are just slightly lower in the pre-market. citigroup carrying out a fresh round of job cuts according to bloomberg. filings show they plan to cut 430 positions in the tech, media and telecommunication units. the cuts come in what citi is calling the major actions of the h massive reorganization plan. shares of insurers are getting hit after the medicare finalizes the prescription drug coverage. this rate of 3.7% is unchanged from january's proposed rate. disappointing analysts which expected between 50 and 100 basis points of improvement. frank. >> humana shares down 9%.

silvana, thank you. we have more to come here on "worldwide exchange," including one financial adviser's best picks for the second quarter. first, a trump slump. shares of the former president's media company are set to get hit again today after getting clob be bered in yesterday's session. and at&t's breaching is an issue with the latest guest saying these hacks are falling on deaf ears. we hahave a very busy hour when "worldwide exchange" returns. stay with us. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on.

(man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

not all caitlin clarks are the same. caitlin clark. city planner. just like not all internet providers are the same. don't settle. you want fast. get fast. you want reliable. get reliable. you want powerful. get powerful. get real deal speed, reliability and power with xfinity. she shoots from here?

that's kinda my thing. welcome back. it's time for the big money movers. we start with pvh tumbling after the forecast is a bigger than expected drop in sales this year. sales down 25% for the year. the company citing a tougher macroeconomics back drop for shoppers and challenging climate in europe. pvh gets .23% of sales outside of the united states. and shares of trump media lost $58 million on $4 million of revenue. trump media completed the spac last week. you can see shares are down 4%

right now. and xiaomi is surging after the first day of trading after the launch of the first electric vehicle. the speed ultra 7 costs $30,000 for the base model. xiaomi received 38,000 pre-order, but expecting to lose money this year in sales. turning to the big news story from yesterday. at&t is still dealing with the fallout over the data breach over the weekend. the company revealing personal information from 72 million current and former customers. names and pass codes and social security numbers posted on the dark web last month. shares of united health down since the cyber attack in february which disrupted pharmacies and medical claims around the u.s.

organizations are spending more on cybersecurity, but hackers are a step ahead. the identity center resource center said it rose 80% last year to a record high. let's get to hugh thompson who is committee share of the i.t. security professionals in the u.s. hugh, good morning. >> good morning, frank. good to see you. thank for having me. >> this at&t breach we mentioned with millions of people is the largest since the new s.e.c. regulations about reporting hacks took effect in december. is this a sign that the rules are working or we are getting this information? how would you view this disclosure by at&t? >> this is definitely a significant breach. what we have seen over the past few months is a string of

massive cyber attacks. you mentioned another one a few minutes ago where folks are not able to get prescriptions. these attacks are having profound implications on society. they are impacting every day people in every day activities. >> i know this is not your wheelhouse, but at&t's stock closed over .50% lower yesterday. not a huge drop. we have seen other companies with a deeper impact after a hack. i'm thinking of okta and also clorox. how often do these hacks impact the stock price? >> the impact on the consumer is interesting. think about the first time you got one of these letters in the mail that says your data was compromised. an

and it is concerning. by the time you get to the 10th or 11th letter, you get desensitized to it. it speaks to how frequent and constant the barrage is from cyber attackers today. >> it is something we have seen often. i'm surprised we did not see a deeper stock impact. >> i think we're in the early stages of the investigations. often if you have a report in four days, it is like reading the first chapter of a book and the book report is due. it is difficult to know the full extent of things in a short period of time. >> hugh, full extent of things. artificial intelligence. you are someone with a lot of expertise. how does artificial intelligence impact cybersecurity and the

corporate hacks we're seeing? >> it's a double-edged sword. on the one hand, there is great promise to help cyber defenders to analysts and on the other side, the attackers are using the technologies today. you see the benefit, but for the attacker, it is a question of scale. can i use it to attack more people more efficiently with the data? we will see in a couple of weeks and months. >> hugh thompson, thank you for your time. have a good day. coming up on "worldwide exchange," we are laying out the housing landscape. why it may be harder for would-be homburs te yeo get in the already hot spring market. we'll have that and more when "worldwide exchange" returns.

power e*trade's easy to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades

and stay on top of the market. e*trade from morgan stanley. welcome back. time for the morning call sheet. we start with ubs downgrading blackstone moving it to neutral. it missed expectations for a prolonged recovery. grinder with the $14 price target with the dating app is converting users to paid accounts. and one stock to look at

this week is tesla. analysts lowering expectations with some even suggesting tesla could face the first sales decline since the early days of the pandemic. the sour outlook coming as tesla faced a tough first quarter with the stock plunging 29%. it was the third worst quarterly performance on record. for those betting against the company, a recent cnbc article highlighting data from s3 partners tesla shorts are up $5.3 billion this year. the most profitable name in the u.s. with the short interest trade. let's dig deeper with michelle schneider. great to have you here. >> thank you for having me. good morning. >> i guess we have to touch on the short trade. the most profitable short here in the u.s. today, we expect the delivery numbers. in your mind, does tesla meet the numbers or exceed or the

possibility of it missing the viability of the short interest trading? >> when you talk about tesla and the whole ev space, there is a lot of dots to connect. we want to connect the right dots. looking at tesla alone, obviously, we have seen a fall from price for a lot of reasons. some of which have hit the entire ev trend which was hot for a long time as we got through mass adoption and reality set in. infrastructure issues and reality of the fact that sometimes you cannot charge a car if you have a blackout or something like that. the fact is that there has been a tremendous amount of competition and also they sat on used cars in lots without reselling which hertz stopped leasing them. when you pull that together, the space was under stress. tesla is the pinnacle.

>> you are focused on a number of things. you have to bring up competition. the growing competition from chinese ev makers. in your mind, when it comes to the long-term story of tesla or the short-term story with the performance of q1, how big of a factor is that in the decline? >> it's a huge factor. china keeps coming out with the release this morning of another car which was a phonemaker in china and set records with recorders. that will keep happening in the united states. tesla is $170 stock against rivian. that is an $11 stock. what we have to look for in tesla is what would make that shine again given the stress of the ev space where hybrids have done better. i think tesla will not be so much with the supply demand and

the numbers that come out today. deliveries are important, but it is one factor. really looking at what is the future and what is the strength of tesla. software and performance of cars and name recognition. >> you are looking at a number of fundamentals. last week, our guest said the storage is a bright spot which is justifying tesla. i want to get to the technical thesis. tesla is moving under the 50-day moving average. over the last few days, trending higher. 180 is the key level on shares? >> i would say for the short-term pop. if it got through 180, you might see people starting to jump in. certainly we know cathie wood buys all of the dips. that could bring it back to 200 or 215. why i'm making this case is because the technicals will be impacted by that until there is

innovation and then self-driving cars is the biggest. we could see the stock breakdown from here to 150 and if it can't hold there, 110. that is when you will start to see real value. >> michelle, we have to leave the conversation. th there. thank you. coming up on "worldwide exchange," a pair of spinoffs from ge making their debut this week. what history has to say about the stocks and how they perform in the long run. if you haven't already, follow our podcast on apple or spotify or other podcast apps. more "worldwide exchange" coming up after this.

trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab.

it is 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." stocks slight to start the second quarter as the fed dims rate cuts. we are finding opportunity within the markets as the week long look at the best ideas for the second quarter and beyond continue. would-be home buyers are waiting for their chance to get into the market and they may be waiting longer. diana olick is talking about the hot spring market being too hot for some. it's tuesday, april 2nd, 2024. you are watching "worldwide

exchange" here on cnbc. welcome back. i'm frank holland. let's get you ready for the trading day ahead. we check on the u.s. stock futures after the mixed start to the week. the dow is looking to open about 150 points lower. we are looking at the dow's pre-market laggards. united health. we just talked about the impact about health care providers. the shares are down 4%. that is followed by walt disney. critical week with the shares down .25%. goldman sachs with the number three spot. we want to get a look at the yields market on the back of the

pop of the pce. the ten-year note is at 4.32. we checking on that throughout the show. israel is carrying out the strikes on the iranian consulate. that is increasing concerns that the conflict could expand and impact oil supplies. wti is hitting $85 for the first time since october. right now, it is trading at $85.21 a barrel. it looks like it is hitting the highs of the morning. brent crude hitting its highs of the morning. we will look at oil prices throughout the morning. we also want to get a check of gold after $2,260 yesterday. it is up 1%. it is on pace for another fresh record high today. you can see gold year-to-date up 10%. let's stick with the markets and the look at the second quarter tapping into the brightest minds in the markets

to find opportunity to give the best stock picks for the year. victoria greene is kicking off things yesterday naming quanta services and devon energy. now we have malcolm ethridge here with us. malcolm, good morning. >> good morning. >> let's get into the pick. your pick is amazon. not based on the cloud computing business or focused on the ad business. why? >> that's a fair way to tee it up. that is what makes amazon attractive. we are focused on the fact that amazon web services carries the water for the company. i think what is buried under the surface there is over the last five years since 2019, digital advertising is returning 37% revenue growth year over year.

aws is only 27%. with margins estimated to be 50% for both units, i think we should pay more attention to the digital ad side of the business. >> you are paying attention to the digital ad. trades at h43 times. you are focused on the ad business.are regulators in the . amazon losing a court battle related to the online ad business. the judge said after ruling against amazon saying it could cause serious harm to that business. how concerned are you about regulation? >> i'm not super concerned about regulation because amazon is not the biggest player in the space. i think they will go after them as a basket. i think it will make some impact as far as amazon is concerned globally. they are number three behind facebook and google.

they are gaining shares in the u.s. that is important. it is unlikely our justice department is going after amazon anytime soon. that is where the significant portion of the ad buying is happening. >> you have the eye on the regulation. i want to go to the under the radar pick. fortinet. you are focused on cybersecurity. you are consistent. i want to talk to you. shares of fortinet are down after palo alto reported. you said fortinet made that news a couple months ago and is benefitting from that change now? >> i think the call from palo alto to move helps fortinet's announcement from premise to the cloud. now palo alto made it clear that is the only way to survive. it made fortinet to be a better

purchase. i think it helps to bring them into the ecosystem of alphabet/google where they have a working relationship to get access to180 points of presence. fortinet is able to help you get that business sooner because the hardware side is too complicated. >> it sounds like it is priced into the stock. it is negative since palo alto. the sector is under pressure. you see that turning around or the company being bought. that's where investors can make money. >> that's what makes this under the radar. i think the cybersecurity space hasn't been getting the respect it deserves to this point. no surprise to anybody who has seen me here on the show before. i believe as we start to really take cybersecurity seriously and see it for what it is, it is a necessary business unit in the tech stack. it is not a discretionary.

fortinet flies under the radar. there is an opportunity for investors who want to move into the name today. i'm watching it myself to see where the most a tttractive ent point is here. >> amazon and fortinet. great to see you. we have stephanie leaguink comin to talk about her pick tomorrow. the home buying hurdles are happening for people who are looking to buy a home. we have diana olick with more on what it takes to get into the housing market. >> reporter: good morning, frank. home prices were 5.5% higher than last year. that comparison is shrinking slightly. the price gain from january to february was twice what it is normally at that time. suggesting the spring market started strong, despite another

rebound in mortgage rates. that data is according to core logic. the real trouble from the market to is the lack of supply. there are fewer listings, but supply is 40% below where it usually is. we see the lock in of current homeowners who will not sell. the cost of moving up is high. we got information which paints a pricey picture. in the 22 years of before the fed started raising rates, the average homeowner upgrading would increase the monthly payment by 40% or $400. moving to a similar home across the street would not change the payment at all. fast forward to buyers today with rates near record lows and trading up to the 25% more expensive home would result in a 132% increase in that monthly payment or about $1,800 more.

they would have to increase the monthly payment by 60% just to buy their own home in the current market. this is an average for the nation. it will vary market to market depending on the market and how much more it costs to move up to the bigger home. interestingly, more borrowers in pricey markets have break even rates. the cost is typically lower for a higher balanced borrower. frank. >> we talked a lot about this on "worldwide exchange." 60% have a mortgage under 4%. that is hard to move with that 4% rate. cash buyers is another part of the market. how are they playing into all this? >> that is one way of getting around this is to use cash. it makes you more competitive, but you don't get the mortgage rate effect. for sellers with the cash to do it and buying into the new home, they don't have to worry about the higher rate.

for the lower income borrowers moving up from the starter home and needs a mortgage to the next level home, they need a mortgage and if they can get the cash up front, a lot of them are doing it with cash first to be competitive and taking out a mortgage. that doesn't help with that mortgage of how much more it will cost. that is why you don't see starter homes on the market. people in starter homes have a hard time moving up to the next level home. >> diana olick with the latest. thank you. great to see you. coming up here on "worldwide exchange," a rough start for the 3m. what it may signal for the company's buability to perform. we will have that and much more when "worldwide exchange" returns. stay with us.

personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

welcome back. we have been talking about cybersecurity on the show today. we will add one more name to the list. rubrik filed for an ipo. it say is a number of companies filing. rubrik makes data backup software for 6,000 customers including nvidia and p home depot. it was valued at $4 billion after the investment by microsoft in 2021. general electric is slimming down. the industrial giant and maker of just about everything from turbines to light bulbs is spinning off the power generation business.

ge vernova. shares are trading today. the company is ge aerospace. shares have been trading higher of the spinoff. 3m spins off healthcare unit. it is whip sawing on the first day of trading. the spinoffs are a good opportunity for investors. jim is here with us to discuss the buybacks and stock offering. jim, good morning. >> good morning. >> we are doing a conversation about spinoffs. let's go back to the first one. vernova. the tracking shares here. is that a good opportunity to buy? you say these are sometimes a good opportunity and sometimes they are not. >> it is a great question. you have to look where you come f from, frank. the premise of ge was on the

knees when larry culp took over. he transformed ge. he joined in 2018. later in 2021, he was looking to break the company into three parts. he started off by spinning off gehc. the health care part. this is the final piece of the puzzle where he spins off vernova. the power lines and electrification arm of the business. you have the three pieces. the ones ce giant is now in thr. they will get three shares on the pfortfolio. >> i want to get to the main question. we talked about the tracking shares. you can see where the stock is going before it debuts. is that a good indicator if you see it moving higher? does it mean you are more than likely --

>> not really. ge shot up in the last year. you see the spinoff is priced into the stock. when it comes to the breakup, you see the value priced. you see investors which are extremely aware of that and the value has been baked in. you have a fair value here and in general electric. the two of them are looking for at a great margin business. >> let's go to 3m. you say there are 25 other spinoffs scheduled for this year. you say to tell the good from the bad, you need to do rigorous examination. >> 3m is the opposite of the end. you have a bad business. the stock myself in 2021 was double. they decided to spin off the health business. they are saddled with a lot of debt. it is a good opportunity for

investors because you are buying into a company with hich is hig levered. that is something investors should watch. on the other hand, 3m, the parent company, have paid down the debt and they have less leverage now. now are paying down the liabilities. that is where we are with the two companies. you should as an investor look at each company on an individual basis to see where they are going. >> jim osman, thank you. i appreciate your time. >> thank you, frank. >> we will hear more on the ge spinoff when larry culp and scott strazik will join cnbc at 9:30 a.m. eastern time here on cnbc. time now for the global briefing. we start in japan. the finance minister warning of action against excessive yen volatility. he stopped short of taking

excessive action against moves to prevent a destabilization fall in the currency. byd shares jumping in march after increasing competition in the global ev market. the company selling 626,000 cars which is up 13% from a year ago. the u.s. and uk announcing a partnership on a.i. safety. they will focus on testing which involves the same methods for infrastructure. coming up on "worldwide exchange," the one word every investor needs to know today and the improving signifials our ne guest is seeing today. if you haven't already, follow our podcast on apple or spotify or other podcast apps. more "worldwide exchange" coming up after this. local life and cultural treasures.

because when you experience europe on a viking longship, you'll spend less time getting there and more time being there. viking. exploring the world in comfort. (grandpa vo) i'm the richest guy in the world. hi baby! (woman 1 vo) i have inherited the best traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

welcome back. time for the "wex wrap-up." disney gaining support in the proxy fight against nelson peltz. blackrock planning to back the company. bloomberg reporting that citi is bringing on a fresh round of job cuts focused on the tech and media units. shares of trump media group is down again today after falling 21% yesterday. the parent company of truth

social revealing it lost $58 million last year. more than than 2022 on just about $4 million in revenue. shares of health insunsurer are getting hit after the medicare drug coverage who was. and csx will begin a freight rail service from baltimore to new york today. it moves the deal following the collapse of the francis scott key bridge last week. warner bros. discovery has two leaving the board after the probe into the anti-trust violation case. here is what to watch today. we get jolts figures out at 10:00 a.m. we get earnings from paychex and a pair of fed speeches with michelle bowman and mary daly set to speak.

futures are in the red today. it would open at 155 points lower. we have katrina dudley here with us to discuss. it's good to see you. >> good morning. >> we saw futures under a bit of pressure after the down day yesterday. how do you see today shaping up? what is the word of the day? >> the word we're choosing is goldilocks. you see so many people out there who don't realize how well we have done with the triangle of tension. that need to balance inflation and gdp growth and interest rates. i think we have kind of got it just right. you do have days like this with the market does sell off because people like to almost be the negative person in the room. if you come to a party and you are waiting for it to be over, you will miss the fun in the interim. you will miss a lot of turns

because you are waiting for the market to go down. >> if you are waiting for the party to be over, you will miss out. what area would be you in if you don't want to miss the party? >> there is another thing we need to talk about. it relates to trading this market during the year. we are in a really unique year. we have a lot of political tension and not just in the united states, but globally. in the united states, however, going into the election, you have rising unscertainty and rising valuations, you have that leading to a selloff. in the u.s., you want to avoid sectors with binary outcomes. you want to go to sections which are good like the defense sector. that hasn't been a strong performer is because you had that hold up in appropriations. if we look at it and if we go

through the election cycle with some level of resolution, we do think the set up for defense is very strong going into next year. it is one of those sectors that benefits regardless of who wins the white house. >> that's the sector that benefits either way. there are other areas that are more sensitive. one is alternative energy >> exactly. what do we have there? we have a situation where you have democrats coming out in favor of alternative energy platforms. you have a risk of the change that the stocks are not fully pricing it in particularly as we get closer to the election outcome and uncertainty gets more uncertain. it gets more close, i suppose, is the way to look at it. we are not as bullish on those names and we see political risk. i also have been a global investor my life, frank. one area where in the united states we have been focused on

pres the fact we have been economic positive. other parts of the world are coming out of recession and those are good opportunities as well. >> i want to go back to the triangle of tension. we are looking at wti which is over $85 a barrel. you mentioned you are a global investor. as we see the oil prices rise, how does that impact what sector to invest in here in the u.s. and globally? >> if i look at the oil price outlook, it is very good for oil companies and traditional comoil companies. they need to transition away from the golden goose which is high oil prices. those cash flows and returning to shareholders make it attractive set ups. the high oil prices are not going to restore a recovery because the companies have spent the last year trying to reduce dependence on energy, be it oil

or other types of energy. pmi numbers are supporting that. >> ckatrina dudley, thank you very much. before we let you go, a programming note. i'll be in london for the rest of april bringing you the coverage and top stories live from the newsroom there. it starts this monday at 5:00 a.m. eastern. one more look at futures. we have been looking at futures all morning long. the dow would open up 160 points lower. s&p and nasdaq are negative as well. "squawk box" is coming up next. (christina) with verizon business unlimited, i get 5g, truly unlimited data, and unlimited hotspot data. so, no matter what, i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon.

her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage?

we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

good morning. futures pointing to more losses after the dow and s&p sold off yesterday in the first trading session of the new quarter. we'll show you what's moving right now. disney reportedly pulling ahead in the proxy battle against nelson peltz. half the votes have been counted from the shares. health insurance stocks tumbling this morning. yesterday, you saw united healthcare during our show, one.

big it's tuesday, april 2nd, 2024. "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. i'm becky quick along with joe kernen and andrew ross sorkin. as joe mentioned, yesterday was a little bit of a difficult day for the markets. you saw red arrows across the board. nasdaq ended slightly higher. s&p and dow were down. those red arrows are carrying over. here is how the major averages kicked off the second quarter. of