it is 5:00 a.m. at cnbc global headquarters. 10:00 a.m. in london. i'm frank holland. here is the five@5." the rally coming on the back of the blowout jobs report throwing expectations of the rate cut path for the fed. the reality on when or if the cuts may occur. and treasury secretary janet yellen is wrapping up her meetings with the chinese leaders. we are on the ground with the

one-on-one with the secretary in just a moment. more trouble for boeing as it deals with another incident involving a plane. investors piling into stocks in the first quarter, but moves by high profile executives are looking to cash in. it's monday, april 8th, 2024. you are watching "worldwide exchange" here on cnbc. good morning. welcome to "worldwide exchange." we are coming to you live from cnbc london. thank you for being here with us. let's check the u.s. stock futures and look at the futures on the back of the blowout jobs report. we are seeing futures looking like they will get off to a down start this week. it looks like the dow would open up 35 points lower. the s&p and nasdaq in the red as well. looking back at last week, we

saw the markets in the red. dow leading losses down 1.5%. the bond market is revealing the two-year and ten-year hitting the lowest level since last november. we will look at the numbers throughout the show. and then there is oil which is up 4% last week. looking at wti right now which is down .75%. brent crude is trading $90.50 a barrel. let's see how europe is shaping up as the trading day gets under way. silvia amaro is here with me. >> that's right, frank. good to have you in london. it has been a muted trading session in europe. equities have been trading for two hours. this is the picture across the boards. ftse 100 here in europe trading

below the flat line. over in france, the cac 40 is up .40%. similar moves in germany. investors are waiting for the key central bank meeting by the european central bank on thursday. the key question is whether we get certainty about that potential first rate cut. in terms of sectors, this is the picture in europe at this stage. we have autos trading up 1.2%. basic resources up 1.2%. at the other end, we have media down .75%. household goods struggling at this stage. financial certiial services as . frank, they are all in the wait-and-see mode to see what the ecb will tell us on thursday. >> silvia, thank you. turning back to the u.s. breaking news. the biden administration announcing fresh fenunding from the chips act.

taiwan semiconductor is given grants to support the construction of semiconductor production factories in phoenix, arizona. they are adding a third facility in addition to the two announced. megan cassella will join us with more on the story coming up. taiwan semiconductor shares are up 1% in the u.s. moving on. treasury secretary janet yellen winding down her visit to china after the busy weekend there. yellen is looking to foster talk with beijing . we have sara eisen with more. good morning or good evening, sara. >> reporter: good morning and good evening. yellen just wrapped up a busy five days in china. first in the south and then in

beijing where she met with top government officials and students and took towurs. frank, she delivered a tough message with the overcapacity issue. the idea that the chinese government has been subsidies evs and lithium ion batteries and solar panels. flooding the world with the cheap exports. that's where i started our conversation. >> they certainly listened and i think they understood this is something that's very important to the u.s., but as i emphasized and they also heard we're not the only country that's concerned about a flood of chinese exports wiping out

important firms and industries in our country. clean energy is something that is an innovative area that will be growing over time. we want to make sure this is an opportunity for our workers and firms to participate in this industry with europe and japan and other countries which feel the same. it's fine for chinese firms to export this industry to develop it, but some of the techniques they use subsidizing their firms heavily and supporting them when they're losing money when demand is weak relative to the great capacity to supply products like solar panels and prices plummet

and it can drive our firms out of business. this is something that's unacceptable from the u.s. point of view and many of our allies feel the same way. i think they understand it. it's been part of their industrial strategy that reflects the importance that they attach to advanced hf manufacturing. it reflects a shortage of demand in their economy so that they are investing heavily in manufactured goods that can be exported. these are things that really can lead to trade tensions going forward which we would like to avoid. >> i was going to ask if you actually expect them to do anything about it. there was a headline that the commerce minister in china said the accusations are groundless. >> i do think they understand where we're coming from and they

have agreed to continue with the inten intensive dialogue on the issue. they understand it is important and they have tools they can use and perhaps it will take a while to have an effect. >> export restrictions? >> i'm not thinking of export restrictions over shifts in macro policies and the reduction in the amount of local government subsidies to firms in the industries. >> i was going to ask what's at stake economically because the world needs green technology. we need evs and solar panels. it has been a big push by the biden administration. >> there will be a growing -- we hope to deal with climate change.

the demand will be increasing. there is nothing wrong with investing in the industries and developing in capacity. >> we do it. inflation reduction act. >> we want to make sure we are not driven out of business and firms and workers have opportunities in these industries which will be important for our future. >> if they don't shift, are we looking at potential tariffs on the products? >> well, i wouldn't rule anything out at this point. we need to keep everything on the table. we want to work with the chinese to see if we can find a solution. we are engaging in a four-year review of section 301 tariffs that's not complete. i can't really speak to what will come of it. i would not rule anything out, but i think we need to deal with the issue.

>> the tariffs imposed during the trump administration. >> that's right. they raise the issue of the 301 tariffs. they said for a long time they like to see them reduced. they were put in place because there were findings of unfair trade practices against the united states and the vice premier, my counterpart, and i have agreed that while trade and investment between our two countries is beneficial and desirable and needs to be on the level playing field. in a number of ways, we feel it is not. we are really raising the issue in that context. we also feel, especially after the pandemic, that the resilience of our supply need te

attention to and being overly dependent on any single country for a very important good for your economy can lead to a dangerous fragility in the supply chains. in the case of the clean energy goods with electric batteries and minerals that go into them with solar panels, we have been very, very heavily dependent on china. that's another reason that we and other countries want to have some domestic capacity. >> you mentioned other countries. china has been flooding europe with cheaper evs. can you blame europe which doesn't have as much growth as the u.s. for having close trade ties with china?

>> europe and china do have close trade ties. europe benefits from exports to china. on the other hand, the car industry is very important in countries like germany. europedoesn't want to see these industries destroyed. they're an important source of jobs and very valuable ones. >> should they increase protections to prevent all of the evs from flooding the market? >> they have started an investigation of whether or not there's dumping of electric vehicles by china in their markets. you know, many countries have ways of investigating dumping and preventing it by putting tariffs in place and that's something that wto rules permit. >> we have tariffs. we have not seen chinese evs in

the u.s. should they be allowed to sell their evs in the united states? >> they are allowed to sell their evs in the united states. we don't have rules against it. again, in that area as well, we are trying to foster a domestic industry. we are certainly open to imports, including those from china which there is no rule against china selling evs in the united states. >> we have higher tariffs on them than in europe. >> we do have tariffs on them, i believe. you know, this is an important industry for us. >> you spoke about tiktok and some of the meetings. i'm curious what the chinese reaction is to the legislation that president biden did say he would sign if it passes congress. >> i think this is an important

and profitable company. i think they're concerned by the prospect they would be forced out of the united states or what the legislation really requires is they would sell the company to a domestic purchaser. i think they certainly have concerns about that. >> do you think the chinese government will allow the u.s. assets sold to u.s. investors? >> i honestly don't want to get ahead of where we are on this issue. the president said he would sign the house legislation. >> you brought up matters of national security on this trip and said there would be consequences for china if they increased support, militarily, for russia. we also heard this week reportedly from secretary of state antony blinken who said that was happening on the large scale. are we looking at sanctions on

chinese companies? >> well, it is not only chinese companies. we would feel any financial institution that facilitated trade in dual use goods or dis strictly military goods in violation of our sanctions and aiding russia's military, we would consider sanctioning. the president issued a recent exec executive order to impose sanctions on financial institutions that are found to be doing this in the systematic way. we have not used this tool yet, but one available and would i try to make clear is we stand ready to act if we see significant violations by

financial institutions. >> in china? >> well, in other countries as well. >> what about the chinese government and its support of russia? >> well, china is entitled to have a relationship with russia. what we have made clear is it is unacceptable to us for china to support russia militarily. that doesn't say that china can't have a relationship with russia. china and russia do a lot of trade. much of it is not problem hat i problematic. anything that is involving the brutal war with ukraine means we can sanction it. >> we have seen economic ties with china and iran.

especially now with iran increasing threats against israel, i wonder how concerned you are and american businesses should be about this. >> we have strong sanctions in place against iran. when we encounter had a number sanctions. >> in terms of china's relationship with russia and iran, is that a matter that u.s. businesses that do a lot of business in china should be concerned about? >> to the extent it creates a national security risk for us and it is something we stand ready to address. >> should american companies reduce exposure to china on the manufacturing basis? >> look, i think trade and investment between china and the united states is valuable.

many american companies are doing excellent business in china and have been here for a long time. the same is true of chinese companies in the united states. this trade is beneficial. the great majority of it is un uncontroversial. i think we should not do anything to impede that trading and investment relationship, but in the areas where we have national security concerns, as we have demonstrated, we stand ready to act to protect our national security. export controls or other interventions. we try to target those narrowly so they don't very broad-based impact on china's economy as a whole. we feel strongly and agreed with

the chinese that we need a level playing field. when we interfere when we have regulations that impact our trade and investment with china, if it is national security or other reasons, we go through an open and transparent rule writing process. we put out proposed regulations. we accept comments. the chinese have the opportunity to comment. we take the input and we write regulations. it's very clear what we are doing. in china's case, often the support we believe there may be a lot of support in ways that are not transparent. that really is a meaningful difference. we are not trying to stifle trade and investment broadly speaking. i would not want to advise american firms don't do business in china. >> if i'm tim cook of apple and

looking at the political relationship and looking at the concerns, won't that trump the economic relationship? >> the purpose of the dialogue i've been in with now for well over a year with our chinese counterparts is intended to make sure that does not happen. that we don't have an unintended escalation of tensions that we understand one another's red lines. we avoid misunderstandings and we preserve economic interactions that are beneficial to both sides. we manage our relationship. we need to manage it responsibly so both sides can continue to benefit. >> you put a lot of work into this and you said in the news conference this afternoon that the relationship is in a better place than a year ago. >> definitely. >> do you worry about the relationship in one year from now if president trump gets

reelected? >> i don't want to get into politics. i'm governed by the hatch act. i feel president biden and president xi directed myself and the vice premier to work toward a better, more stable p predictable relationship with one another to stabilize our relationship and to try to manage our differences and create better channels of communication. more importantly, work together on many things where we can both make contributions that are important to the globe whether it is dealing with climate change or other issues, public health issues, debt issues of low-income countries. that's what we're trying to do. we have greatly deepened our

relationships. i feel the relationship is in a much better place. >> one thing that helped the dynamic is the u.s. is coming with a strong hand right now on our economy. >> i think we can feel great about our economy. >> what did you think about the jobs report? >> it shows the u.s. is firing on all cylinders. in terms of short-term per perfo performance, inflation is coming down. the job market is strong and growth is really a lot stronger than i would have expected at this stage. we had 3.1% growth last year. inflation is coming down. labor supply is up and we're seeing some of the pressures. we might worry about coming from the labor market impacting inflation. they're subsiding. unemployment remains low. >> you are confident we can get to 2% this year?

we have seen a flare up. >> it will continue to come down over time. that is my expectation. i'm hopeful that we can certainly get into the twos. >> recovery stays in tact with or without fed rate cuts? >> i'm not going to make a forecast on fed rate cuts. the fed has indicated they want to make sure inflation is really coming down and they are considering rate cuts that would be appropriate when they reach that judgment. we've had generally good news on inflation. let's look at the data. i believe inflation will continue to come down. >> i guess i'm wondering if the economy continues to hold up no matter what happens on the fed. >> we have a good, strong economy. we have good domestic demand. consumers are holding up. low-income consumers are exhausting their buffers of

savings they built up during the pandemic. we are seeing a little bit more distress at the household level. generally, households are in good financial shape. our financial system is generally quite strong. things can always happen. there is always recession risk. geopolitical developments could create risk to our economy. i think we've got a good, strong economy on a solid track. >> reporter: clearly, secretary yellen calling it a good, strong economy. frank, that illustrates a change in the dynamic in the discussions with china where she characterized the economy as weaker and play into the fact they have been trying boost by investing in manufacturing of green exports. for instance, she is trying to encourage them to boost the

economy by going the consumption route. frank, if there is one thing i learned in the discussions, they did not treat her as a politician, but a former economist. she is a former fed chair. that gave her a unique diplomatic edge in confronting them on the tougher issues. >> number one, sara, great interview. i'm sure you learned more than one thing. a lot to touch on. i want to hit on one thing. yellen said they deepened their ties and a stable relationship. she used tough language when they talked about overcapacity of things like evs and solar panels. unacceptable and conversely, the commerce minister is calling the issues groundless. how do we move forward as we try to balance these relationships? >> reporter: that is the question, frank, which is will china respond. that is why i pressed her on a

number of issues over capacity. we have been following the state media and the reaction from the chinese officials and it has been more dismissive of the overcapacity concerns. in fact, some of the state commentary called it zenophobic. they see this as a political move by the u.s. all she told me is they are listening. they hear us. they clearly respect her views on the economy. the question is will the u.s. have to impose tariffs or some other restrictions to prevent china from dumping and she characterized it as hurting the american industry. that is not off the table. delivering a tough message on capacity, but in a janet yellen way where she was welcome wherever she went here. social media outlets were

obsessed with her food choices and which restaurants she was going to and complemplimenting dexterity using chopsticks. >> you touched on it a bit. the russian foreign minister arriving in beijing to etcmphase the ties with russia and china. did you talk about that? >> reporter: that was a threat of there will be consequences, i.e. sanctions, she threatened the financial institutions on this front which was aiding the military efforts of russia. russia has a policy of not doing that. it is okay that yellen said it is okay to have an open trade relationship, china and russia, but the u.s. is monitoring how much, if at all, china is aiding

the military and industrial complex. if that turns out to be the case, they would use sanctions. she highlighted financial institutions as a threat on that and who is financing the interactions or transactions. that's the news she had made here and message she was sending to any country. she said it here in beijing forcefully. >> all right. sara eisen live in beijing. great interview with janet yellen. thank you. let's get reaction from what we heard from janet yellen. we have a senior fellow at the atlanta council economic center. good morning. great to have you here on a day like this following that inte interview. >> good morning. thank you for inviting me. >> was something that stuck out about the interview or what we heard from janet yellen?

groundless and unacceptable on both sides of the overcapacity issue? >> that is talking about the ability of the chinese system and our availability. yellen was correct in raising the issue of overcapacity particularly in green tech sectors. from the chinese point of view, that is the strategy to develop the new growth engine and serving the economy and the organization of the economy. >> so a lot of talk about the chinese economy. you heard sara say yellen was trying to get officials to focus on consumption. for the second straight year, gdp growth target of 4% was set. in your mind, is some of the

push back focused on the gdp tar target or is it political? >> for the western economy point of view, china has engaged so much on investment. highest in the world and creates a lot of overcapacity. it causes problems in otther countries. it is better for china if they have more consumption. for the chinese point of view, i think more supply side management rather than demand side management. i think that developing view will create good manufacturing jobs. it would allow the workers to consume. that is how they can square that

up. >> i want to correct myself. gdp target is supposed to be around 5%. thank you for being here. thank you for your insight. >> thank you. we have move to come here on "worldwide exchange," and that includes the job report that has an issue for the fed cut expect peculi ations. and what the yellen sitdown means for the veme iinstntn the country. we have a very busy hour when "worldwide exchange" returns. stay with us.

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it is after 5:30 a.m. in new york and 10:30 a.m. in london. there is more ahead on "worldwide exchange." here is what's still on deck. stocks looking to carry over the friday rally on the back of the blowout jobs report as investors turn to the next piece of critical data. futures are lower right now. janet yellen sitting down with cnbc on the back of the meetings with chinese leaders o o offering tough talk. and the white house looks to bolster america's chip independence. it is monday, april 8th, 2024. you are watching "worldwide exchange" here on cnbc.

welcome back to "worldwide exchange." i'm frank holland coming to you in cnbc london. let's get you ready for the trading day ahead. we check on the u.s. stock futures. bouncing off the lows of early this morning, but still in the red. it looks like the dow opens up 8 points lower. s&p and nasdaq fromlat right no. the bond market is looking good on the back of the jobs report. the two-year yield and ten-year yield is moving higher. let's turn to breaking news. the biden administration announcing fresh funding from the chips act and giving it to taiwan semiconductor. megan cassella is live with the details. megan, good morning. >> reporter: good morning, frank. another big award from the chips program. taiwan semiconductor is on track

to receive $6.6 billion from direct grants from the commerce department and up to $5 billion in loans from the chips program. it is expected to tap the tax credit as part of the program to provide another 25% in eligible spending. tsmc is expected to build $65 billion with two factories. the focus is on the two nanometer chips to power a.i. systems. they will support apple and amd and nvidia. this is the first time the chips will be produced here in the u.s. all three factories will be operational by the end of the decade. this is likely to create 6,000 jobs. this should be the largest foreign direct investment in

arizona state history. r gina raimondo said this will boost supply chain resiliency and make this a hub of a powerhouse. this is the third award from the chips program. commerce at $22 billion left in grant money. there will be more announcements in the coming weeks. frank. >> megan cassella, thank you very much. gina raimondo will join cnbc at 9:30 a.m. eastern to talk more about the announcement and much more. gina raimondo on "squawk on the street" at 9:30 a.m. talking about the award from the chips act. janet yellen sitting down with sara eisen earlier today. she addressed a wide range of issues, including the further u.s. tariffs on chinese goods and electric vehicles and green exports and the ability of u.s.

companies to operate in china. >> some of the techniques they use sub asi use sub adizing their firms heavy leadership and supporting them when they are losing money when demand is weak relative to the great capacity to supply products like solar panels where prices plummet which drive our firms out of business. >> let's get investor reaction now. brendan ahern is with crane shares. brendan, good to see you. >> likewise, frank. >> a lot of ground covered in the interview with janet yellen. one thing that made people's ears perk up is tariffs and it is on the table. how should investors take that? >> this is a negotiating tactic. this is the way for the u.s. to extract value out of the china side.

china has a dominant position in solar and electric vehicles. i think there's a desire as janet yellen said about raising domestic consumption. that will benefit all u.s. investors to move the multinationals to the domestic economy. >> one thing that janet yellen talked about is the european officials are investigating chinese dumping of electric vehicles and solar panels. realistically, how big of a threat is that potentially to the u.s. industries as janet yellen mentioned there is no restriction on whchina selling s in the u.s. >> you see some make inroads into the european markets. auto manufacturing is a lot of jobs. what you see from the chinese electric vehicle companies likes

nio is building factories in europe. i don't think we should expect p imports into the united states, but maybe there is a way the chinese electric vehicles could be manufactured in the united states. certainly, those vehicles are available everywhere in the world other than the united states, but high tariffs. maybe there satis an opportunito build the them in the u.s. >> some of the protectionism talk we are hearing, how impactful is that to the multinational companies here in the u.s. operating in china? >> 100%, frank. whether you are directly invested in china or not, you are implicitly invested in the strong revenues of the u.s. multinationals like apple and tesla which face steep challenges from local players. nike and starbucks and

mcdonald's and a host of others and the profits they make in china and sent back to the united states. there is an open playing field for the companies in china. they have to abide by local rules and regulations. as janet yellen said, it will help multinationals in china because they are geared not just to the industrial sector like a cater caterpillar, but we have seen a comeback in the post-covid era so far. >> brendan ahern, thank you for your time. have a great day. >> thanks. coming up on "worldwide exchange," robert frank lays out the moves that tech's biggest titans are making with shares of their own companies and what it reans for the broader markets. mo "worldwide exchange" coming up in just a moment. propositio.

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wielcome back to "worldwide exchange." the market investors are looking for a strong start to 2024, but executives going the opposite route selling shares at the highest rate in years. robert frank is joining us with the latest we have seen so far. robert. >> frank, it was a lot. the first quarter is not a lot of selling and usually that is

in the fourth quarter. this year, we saw more in the first quarter since 2021. pre-scheduled trades nearing $25 billion in the first quarter. that's according to smart insider. the telling is more than double from last year. most of the sales were in tech. jeff jeff jeff bezos accounted for one-third with $1 billion of amazon shares. amazon ceo andy jassy also cashing in $21 million of shares. that is equal to what he sold in 2022 and 2023 combined. mark zuckerberg sold shares for the first time in three years. he cashed in $135 million of shares. peter thiel selling for the first time in three years selling $175 million of palantir. s snowflake's ceo cashed in weeks

before he announced his departure. insider sales don't mean a top for the stocks, but studies show, frank, that the insiders tend to sell near or at the near-term peak and they certainly, based on the market moves, call it pretty well in the first quarter by selling. >> all right. robert frank with the latest on insider selling. thank you. coming up on "worldwide exchange," the rate reality. what a better than expected jobs report could mean for the fed and the stocks path forward. eaafr isbe right back teth brk.

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prevagen. at stores everywhere without a prescription. welcome back. it's time for the "wex wrap-up." janet yellen telling us she is focused on keeping american companies from being run out of business when it comes to what she calls the flood of low cost of chinese goods. speaking with sara eisen, she is not ruling out chinese tariffs. and biden cautioning beijing in the china sea. china is under estimating the potential for geopolitical escalation. the supreme court is investigating elon musk in the obstruction of justice around the social media platform x. he is challenging the call to block the calls on x calling

them unconstitutional. we are watching shares of tesla higher on the back of the report that tesla pulled the plug on the low-cost vehicle plans as it faces competition from china. the boeing 737 plane is back in denver after the cowling fell off during takeoff. the faa is now investigating the incident. and u.s. steel deal is getting blowback as it could undermine national security. back to the markets now. they are set to face a test this week with the march cpi out on wednesday. that report could be a gut check on inflation following two months of hotter reads. reinflation is reinforcing the wait-and-see approach.

let's talk about this with patrick fruzetti and robert shine. great to have you here. patrick, i'll start off with you. this week, after we saw a hotter than expected jobs report, what are you expecting with the markets and even today with the futures lower and now have been moving higher? >> i think the big read is the inflation data coming out on wednesday. we looked at the inflation readings in the payroll last week. the labor participation rate did tick up. i think that's the only thing keeping a june rate cut on the table. otherwise, i do think it will be pushed back and i agree with every time the number of rate cuts goes down, i think that can put pressure on the markets. we'll see what happens on wednesday. if it is hotter than expected read or in line, you could see

some pressure on equity markets. >> robert, similar question for you. futures were lower this morning. they are stilled in red, but off the lows. at the same time, we have seen bond yields. two-year bond and ten-year bond lowest since november. >> we will see global rate cuts it week kickoff and the federal reserve will keep higher for longer. they are looking or actually searching for something that gives them any sign they can actually join the party. i don't know it will happen sooner than later. i think june could be questionable. it could be kicked to september moving forward. >> robert, you have questions about the cpi report coming up on wednesday. in the meantime, how do you see investors reacting to some of the uncertainty about the june cut? >> i think it's the wait-and-see

envir environment. take advantage of the opportunities. this is a stock pickers market year to date. that is how we are seeing it with our clients. we are taking advantage of the opportunities even with the uncertainty. >> speaking of uncertainty, there were some questions about the u.s. and chinese relationship as recently as july when janet yellen visited. there is tough talk on both sides, patrick. how is that impacting the u.s. stock market and companies operating in china? mcdonald's and starbucks and nike to name a few? >> the better relationship with china means it is better for u.s. multinational companies. if you look at the average investor in china, they have

been burned by their stock market and housing. if you look at what they are investing in, it play ns into t rates. if you look at metals, that is show that we will have inflation higher for longer. likely that means we have rates higher for longer. if you look at where the average chinese investor is investing today, it is actually in gold. it may be surprising for people, but gold is strong. i think that's creating pressure on the commodities markets. >> one of the catalysts for dpogold is buying by the chinese central bank. gas, patrick, your pick for us today is gas. give us the name and the elevator pitch why it is a good stock to invest.

>> murphy usa. the convenience store and gas store. very simple business. i love these value type pick. it is trading nine times ebitda. it is a well run company. they have very steady margins. i like the boring businesses, if you will. they have a tremendous track record. they buy back stock as well. a good company to hold in the portfolio. it has been a stallwort for ten years. >> robert, you are looking at the lng. exxonmobil is the stock you have today? >> at the end of the day, we have oil at $87 a barrel.

strong balance sheet and cost savings. healthy valuations. at the end of the day, it is attractive. you get paid while you wait. 3% dividend. you add geopolitical tensions moving with wind in your sales. that's why we like exxon at this moment. >> a lot to cover there. thank you. patrick fruzzetti and robert schein. thank you. still in the red, you can see the dow is taking a dip. looking like it is opening 20 points lower. s&p and nasdaq are flat. that's going to do it for us. "squawk box" is coming up next.

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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. news breaking in the last hour. $11 billion from the chips act has been awarded to taiwan semiconductor. die details ahead. elon musk facing off with the brazil supreme court justice over free speech and censorship.

it is monday, april 8th, 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. i'm becky quick along with andrew ross sorkin. joe is out today. it is monday morning. we have a big week this week. we are looking for inflation data. watching that quickly. if you are looking at the u.s. equities, you will see modest declines. dow futures off 20 points. s&p futures down 5. you have the nasdaq off by 2 points. this comes after stocks rose on friday. it wasn't enough to save the dow. the dow saw the worst weekly