it is 5:00 a.m. at cnbc headquarters, 10:00 a.m. in london i'm frank holland. here is your "five@5." stocks within striking distance. investors riding the wave of the earnings beats in what's turning out to be one of the best in years but economic concerns continue to cast a dark shadow. a number of major boerses hit fresh record all-time highs. we dig into what's driving the wind. plus elon musk is hoping to keep his robo taxi in mind.

plus a blockbuster beat. it's wednesday, may 8th, 2024. you're watching "worldwide exchange" right here on cnbc good morning welcome to "worldwide exchange." we're coming to you live from c in /cnbc london. we're going to take a look at the futures. we saw the dow arise awe three of the indices have now turned very slightly to the red right now, this as investors continue to wade through the thick of the earnings season with 35% of the s&p 500 companies already reporting their results. we're taking a look at the bond

market as we always do with the 10-year yield trading at 4.5%. take a look right here the 2-year note is at 2.83. we may be through the busiest stretch of earnings, but there's still a long way to go with reports coming up higher. jim cramer had steve huffman of reddit on last night. >> every companies' customers are on reddit. by making our ad tools easier to

use and making our ads better and better, we're recognizing that position. lyft is posting a second positive quarter it expects higher cash generation for the year due to increase in rides and active riders it's expanding its local economist lyft is up just about 6% for much more on the corner, be sure to catch ceo david risher on "squawk box" later today. revian's revivian reports mixed results. it expects to reach positive inforcement. we'll have more when the ceo rj ska ridge is on "squawk box" later on. earning season is in full

swing. our silvia amaro joins us with a positive day across europe. >> you're seeing european equities mostly in the green i would high light it with the ftse 100 trading at new record highs. and tomorrow we're going to hear from the bank of england we'll see if they give more hints of when they might cut rates. mostly what we're seeing today has to do with the earning season let me just share this number with you to put everything into context. as of yesterday we had heard from 64% of the european stoxx 600 companies and earnings are up 9% on the quarter so so far, a relatively positive earning season in europe we are tracking quite closely siemens energy after they raised its full year outlook for power grade equipment in the second

quarter. the german energy company expects revenues to rise between 10% and 12% up from a previous range of 3% to 7%. the company also said it will replace the ceo of its wind turbine division two years after he took the job. we know that part of the business was a big concern for investors. if you look at the shares, they're moving higher by more than 12% now we're also getting a little bit of downward move when it comes to shares of bmw they have reported automotive margins of 8.8% in the first quarter. that's down from 12.1% from a year ago and missing expectations as heightened costses weigh in it's not just a positive tone from european companies. we're getting a little bit of downward movement when it comes to bmw shares, but so far the q1

reporting has been quite positive for the stoxx 600. >> sylvia, thank you very much. turning our attention back over to wall street, investors may be celebrating the surprise surge in quarter profits, but that's coming in with stark contrast including weakened sent meant and inflation. we start with the ceo raising concerns at the milken institute conference yesterday. >> i do think you're seeing weaknesses we anticipated. jpmorgan was saying the excess sperchding savings would be out, finished in may. you're seeing starbucks' results, mcdonald's warnings, delinquencies of credit cards. i do think 50%, 60% of americans have run out of savings and is going to start pinching their pennies. >> we have jeremy with

wisdomtree do you agree with what barry sternlicht has to say? >> if you're doing a lot of real estate development, the borrowing costs are going up, they bought a lot of buildings where cap rates are much less attractive you understand his pain. i would say you saw some signs in the mcdonald's, starbucks we talked about it could be they raised their prices too much. you haven't seen unemployment tick up. we can describe it as goldilocks not too soft, not to hafrmd earnings are doing well. i'm not seeing weakness. >> you're seeing earnings coming in better than expected. you kind of gave us a pick today. you're talking about this in your own book. you believe there's an upside

when it comes to japan. >> it does come to valuations, and i would say one of the master value investors you heard -- i was listening to becky's interview of warren this weekend after the berkshire hathaway meeting. the s&p earnings, that's a 5% earnings yield perhaps 7%, 8% if you add inflation. you're starting dxj with a 5% carry. then you have 14 pe. i would bet on it. you're getting positive corporate governance. >> we're seeing it this year one other thing that's a concern for japanese equities and all

global companies, looking at the dollar chart, up 4%. how does it inform your investment decisions >> it's one of those things people don't have enough exposure to in portfolios. when you talk starbucks, mcdonald's, they've exploded to a weak dollar. when the dollar is rising, it hurts their earnings so a lot of people when they go overseas, they add in the extra cur currency i think they need more strong dollar portfolio to head earnings betting it's been the exact opposite of bonds where they're not diversifying stocks. >> okay. give us a quick example. a strong dollar, give an example. >> not taking sort of dollar

beds. >> all right jeremy swartz from wisdomtree. we've got to leave the conversation there thank you very much. we've got a lot more to come to on "worldwide exchange" including one word investors need to know today first we're tracking the key stocks and the u.s. stocks are not falling too far behind, within striking distance of their own fresh highs. the names you should be buying into on the way back up. and a busy day of earnings as you take a look at the number one thing you need to watch r.fo a very busy day ahead when "worldwide exchange" returns stay with us

(♪♪) something amazing is happening here. in a world of data, people are accessing critical information quickly and securely. that's because cdw architects are building infrastructures with unified data storage from netapp. with the flexibility to run workloads across any environment, providers experience less downtime, giving them more time with patients. make amazing happen. netapp and cdw.

welcome back to "worldwide exchange." that doesn't mean the rivian results have let up. we have numbers from dozens of companies including the firm airbnb, arm, and uber. we have more on what we should be expecting from two of those names. >> this is only the third quarter going public yet they're bullish on arm ahead of earnings out tonight. arm earned its stripes, providing blueprints for its cpu. but over the past six years the chip designer has expanded the company makes money from royalties and licenses shares have dropped double digits in the last month but are still outperforming the stocks

that's on a year-to-date basis, and it's on the notion that arm will benefit from this giant ai push, especially as compete increases. so look out for any new comments from arm about apple using this new ai architecture. the second thing is the smartphone recovery should be the driver given that arm gets about 25% of its revenues. however, china does remain a risk last quarter arm contributed a total of revenues and they could have an impact on outseitzed results. >> oober shares have been pretty much flat over the last three months after a banner 2023 investors are looking for fresh catalysts, but the big milestones, consistent profitability, cash flow, inclusion, the stock went up on all of those things. that could be giving the street a reason to pull back.

there's tesla and robo and then there's the regulatory battles we did get smatter ridesharing rival lyft results last night. they beak expectations in terms of the first quarter finance chicagos but guidance for the first quarter, likely raising the bar for uber i spoke to david risher. he says premium modes are growing faster than the average and so called party lines are up food delivery pacific northwested deeper than expected lo losses the competition may be seen as tougher. you have uber, door daesh, amazon, and instacart trying to protect shares back over to you. >> uber could add to what we've

been hearing in recent weeks airlines and hotels expect strong bookings through the summer months, but some like delta and 345ir yacht are counting on international travel disney was saying yesterday it's seen some evidence of moderate posts. we'll talk more about this with clint henderson, managing director -- he's not the managing director, but he could be. >> i'll take it. >> i'm all about promotions. people still have pandemic savings years after the pandemic i also heard in recent months talk about revenge travel. is that still a thing? what is the data showing us about travel demand and desire >> it's incredible demand has stayed pretty steady. we're not seeing the surge we saw right out of covid

we've seen the demand shift from places like hawaii and mexico to places like japan and europe so you're still seeing really heavy demand for those parts of the world, and i don't really see a sign of a lot of leisure travel ending. i think some of the destinations that got the most traveled theme parks, nation and parks, hawaii, they sort of got overdone, and you're seeing pullback there in general, leisure travel is going crazy and bitz travel is coming back. any leure demand travel fall jaut is being compensated. so it's all green lights pretty much aside from a few weaker players. >> okay. so you're hitting on some of the travel we're seeing. right now the airline flights are higher year over year. they were supposed to hit a peak at 315 right now they're at 305

is that typical? there should be an increase. >> prices have held city from last year and they're actually lower than they were right out of the pandemic, so you're seeing some return to normalcy in pricing for airline tickets that said it's really pricey to go to europe and to asia, so there are spots where it's more expensive. in general it's back to prepandemic levels. >> some of the most sought after destinations i took a trip a few years ago. it was amazing managing director, promotion received. for more on uber and the state of travel, be sure to catch the interview with its ceo at 7:10 cet later today. coming up, crowdstrike and

z scaler, what they're saying. coming up next ry swing and bloc, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ how am i going to find a doctor when i'm hallucinating?

what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.

welcome back to "worldwide exchange." day two of the cybersecurity conference in san francisco yesterday where the governor announced a new plan and the forecast that shows there will be $10 trillion in cyber criminal activity ha next year many companies will sign

the pledge is voluntary and focused on seven goals in areas of cyber protection. which including multimulti-leve authentication. >> the system that directs our daily lives are underpinned. frankly that technology was built in a way that did not prioritize security. it was built in a way that prioritized speed to market and adding on cool features, and security was a bolt-on. >> i spoke with others about the design pledge and the context of an ai-powered landscape. jay chaudhry said it will change

things our enterprises, our companies need to step up, really embrace some of these things early on. it may seem like it's slowing things down, but of your y'all it will benefit us we all know breaches are happening too often, and unless the center blazes braces it. we we've seen the stein taking off quite significantly. another hop topic, platformization. it creates a completely cohesive system

c crowdstrike was founded under a platform it will address the worker shortage it really comes down to threat and to cost management. >> it's a hot topic at rsa everyone's running around saying they've got a platform, but i think the true definition is the ability to solve many use cases and outcomes for customers with one single platform and data in one spot and, of course, the ai data on top of it. by leveraging, we can take a tier 1 analyst or basic analyst and make them a super nachlt we think this is a special approach for companies.

i was told yesterday there are not enough stock 234589s. >> for more on that interview, go to cnbc.com. as we head to break welcome're watching shares take off at the open. social media companies are coming in with first quarter results that surpassed've its own targets. coming up 57%. loss per share nroarwer than expected at 14 per quarter we're back right after this. did you ever worry we wouldn't get to enjoy this? [jeff laughs maniacally] (inner monologue) seriously, look at these guys. they are playing great. meanwhile, i'm on the green

and all i can think about is all the green i'm spending on 3 kids in college. not to mention the kitchen remodel, and we'd just remodel the bathrooms last month. with empower, i get all of my financial questions answered. so i don't have to worry. so you're like a guru now? oh here it comes— join 18 million americans and take control of your financial future with a real time dashboard and real live conversations. empower. what's next.

it's about 5:00 a.m. there's still a lot more ahead on "worldwide exchange." here's what's still on deck. the dow launching its longest multi-day win streak in another five months. despite the market's slog back, growing questions emerging on whether we may be range-bound in the near term. our awl star panel lays out the stocks you need if we end up in a holding pattern. we're looking oversees for opportunities as a number of the european markets hit record-highs it's wednesday, may 8th, 2024. you're watching "worldwide exchange" right here on cnbc ♪ all right. welcome back to "worldwide exchange." i'm frank holland coming to you from cnbc london we take a look at stock futures. after kind of a mixed session

for stocks yesterday, we saw the dow ruse taking a look right now, it's kind of a mixed picture. the dow has swung into green, looking like it would open up ten points higher, however, the others are fractionally lower. some companies are already reporting. according to lseg earnings are coming up. we're checking the bond marked with the 10-year yield still below 4.5%, the 2-year below 5.4% the 2-year at 2.84%. now we're going to turn it back over to stocks the nasdaq is the only one who notched gains. the indices are not far from their records between 1.25 to

2.5% highs we look at what stocks you should be riding along the way for more, let's bring in jeff kill borg. both of you aring looking at some of the volatility you're seeing in the markets. you're forecasting a pullback. jeff, i'm going to start off with you what are the expectations. do you think you'll get a pullback and if they are, how do you play your investments from there? >> i'm not going to call it a fullback i call it a false sense of security what's fascinating to see, today is going to set the tone

rates at 4.5%. that's still quite elevated. so i think you have to understand some of the understand appreciated tech. i'm thinking of apple, ibm, intel, they have been for gotten about since this parabolic move. it's going to be time to lock at the underappreciated tech ranges i think it's here, frank, until the election in november. >> really, okay. i'm going to come over to you, todd i was thinking about you when i was talking to jeff first. you're saying we could see the s&p pull back. he doesn't want to call it a pullback, but -- >> we're both on the same page we're both two good-looking guys, frank. >>al t although a few inches shr than mr. kilburg.

>> what should investors do then >> i'm still approaching this market with the same bit of let's call it open-mindedness. i just find this technical level of 4800 to i think it's to 21 in the s&p in 2022 and the nasdaq near the equivalent. how do we not go back and retest we have a lot of indecision in the market you have sector rotation moving out of growth names like consumer discretionary tech and communications and moving into more value, which is no caughtedly due to higher inflation, rates that are sticky that 10-year yield up. i like it in the near term that the 10-year yield has backed off. i'm concerned, guys, if that continues to break down, it sends the market the wrong message in that perhaps that value rotation is problematic.

it further inverts the yield curve. it drops the yield curve so near term i'm a little concerned. i'm looking at some longer term, more like reasonably valued tech stocks but very much aware of the rotation and the value. >> so we actually got jeff's understood appreciated tech. you have your own picks. you call them lost sem stocks. klec, applied materials, broadcom, texas instruments. you call them loss they've had issues in the earnings report. why do you think they're good buys right now >> sorry was that for jeff or todd? >> todd, i'm talking to you. you're the one with the chip stocks. >> i was going to say, jeff, he

stole my stocks. we're seeing sort of the more reasonably valued semiconductors appear those guys are acting better in here where if you look at again the rotation, if you look at how the technology sector's made up, semiconductors, hardware, application software, et cetera, the high-flying nvidias, they have fallen out of faber, got quite range-bound, and the lower volume names are doing well. even outside the semi-space, apple made a stance. the earnings report was favorable. dell, i added that to my portfolio, oracle. you have to look at the rotation into value, and we are concerned of a pullback. i'm not saying it's going to happen. >> okay. jeff, we'll come back over to you. we're watching the vix

continued to be concerned about the vix after what kashkari said, that a hike might still be on the table are we going to see a spike in it >> he does have a vote i'm not too worried about his outlook. if you look at the last five years, we're in the lower end of the range. when you're really looking at this pullback that he's talking about, i think it's really healthy. when you see the parabolic move high, this is hello i think. the back and fill -- old trading term -- old pits in chicago -- when you backes and fill, that allows you to clear the market with the vix at 13, it has the ability to snap like a rubber band and you may see something a quick note, you may see quick ones some of these guys are taking profits in ai. i think that's healthy when you're talking about the 500 etfs that own nvidia

you can see nvidia pull back as it did in the month of april by 20% back down to the 700 level. >> all right jeff, jumping off other prominent interviews jev jeff, i know there's admiration here. >> a lot. >> do you think these are the three exceptions that you say is under pressure >> again, to continue on the mutual admiration, good pickup, and i hear myself sort of contradicting myself yeah, these are a couple of good names. they're strong, fundamentally set-up companies, gaining market shares, good technicals. you really have to dig to find names. you know, onon has been growing

58%, 60%, now they're setting in at 25%, they're going after nike they're coming out with earnings may 14th they got hit last quarter because their swiss base company affected the effects deal. the dollar has been rallying since q1 against swiss, so that could help dell, celsius, i like this one, another massive earner they got hit with the distribution -- >> todd, we've got to leave it there. jeff and todd, appreciate both of you read more of jeff and todd's work go to cnbc.com\pro. we now turn to breaking news from the white house the biden administration is set to announce a $3.3 billion investment by microsoft for an

artificial intelligence database center in racine, wisconsin. it will create 2,300 union construction jobs and the one proposed by foxcom. coming up on "worldwide exchange," though details on what has investors logging off he online dating company that story and much more when "worldwide exchange" returns and ask for something for memory, i recommend prevagen. number one, because it's effective. does not require a prescription. and i've been taking it quite a while myself and i know it works. and i love it when the customers come back in and tell me, "david, that really works so good for me." makes my day. prevagen. at stores everywhere without a prescription. (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 we'll all go. wall street forecasts over $100 billion in sales for weight loss drugs known as glp-1. even with unliked and inconvenient injections, dehydratech processing of a glp-1 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 glp-1 drug delivery.

time for "worldwide exchange." we're going to start with matchmaking. tinder posts a drop in paying users. the company expects revenues to be at the lower end of its 69% range. shares of match group down about 6%. upstart issues a weak forecast it's looking for a return to sequential growth in the second half of the year and positive growth by the end of the year. it fell double digits once the halt was lifted. we're seeing shares of sonos tumbling reporting a wider than expected loss of around $70 million despite growing revenue estimates. they look ahead to a revamped

sonos app. shares are down 7.25%. coming up on "worldwide exchange," with oar going to dig into europe's record run and the key tastcalys that could propel them even higher coming up right after this break neration, can irreversibly damage your vision. it can progress faster than you think. when ga threatens your eyes, take a stand. slow ga with syfovre. syfovre is an eye injection that was proven to slow damaging lesion growth over 2 years with increasing effect over time. it's the only fda-approved treatment to slow ga in as few as 6 doses per year. don't take syfovre if you have an infection, or active swelling in or around your eye that may include pain and redness. syfovre can cause serious side effects, such as eye infection and retinal detachments, severe inflammation of vessels in the retina which may result in severe vision loss,

wet amd, eye inflammation, and an increase in eye pressure. most common side effects are eye discomfort, wet amd, small specks floating in vision, and blood in the white of the eye. tell your doctor right away if you have any side effects. every moment counts—act now to slow ga with syfovre. ask your retina specialist about syfovre.

what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. welcome back to "worldwide exchange." in germany, the dax is just

about a half a percent away from the 15i78 milestone. helping things along is a string of earnings reports and positive stock reactions including siemens, alstom, and others. europe is not leaving you out with i shares, vanguard, and others keeping things high joining us, christina hooper, chief global market strategist and maximilian u lair. good morning to both of you. christina, i'm going to start off with you what makes things so attractive? dividends are expected to increase 4.5% in 2024. what other factors are driving this outperformance? >> it's a combination of higher differ accident yields, more attractive valuation, but also

more exposure to cyclicals if you assume there's going to be a global recovery, then cyclicals are likely to perform better in that kind of environmental. in addition as you mentioned, earnings have come in. about 61% of companies have beat earnings that's higher than the average we've seen over the last few years. so all of those things together play an important role the keep short-term catalyst ecb cutting rates seems like a much shoer thing than the fed cutting rates in june. maximilian, coming over to you, we mentioned the stoxx are a at a fresh record. what do you think? this year, they're having a very strong run. >> good morning. i think some catalysts are already in place i think they continue to work.

one is that you have a relative acceleration in european growth while you have a relative deceleration if excess growth. also you've discussed eps growth, right? this was the first quarter in six quarters where we have sequential growth in earnings. we think earnings will come in bettser than expected, which i think is very unlikely, looking at fundamentals. >> so, maximilian, i'm going to stay with you for just a second. the ecb is widely expected to cut rates. when it comes to the fed, there's no clarity at all. >> you've seen european inflation coming down. european inflation is now at 2.4, which is, you know, in the

range of historically normal inflation, so why not cut rates. we'll see a first cut in june that will, again, drive attention to europe being in this favorable situation of economic growth picking up and inabout flakes coming down at the same time, which is a very nice backdrop. that should be helpful for markets looking forward as well. >> kristina, coming back over to you, we've seen something not unprecedented, but a bitz unusual. i was thinking about the buyback, bp being one of them. do you believe that's a long-term tailwind do you think they'll become a bigger part of the corporate culture here >> oh, absolutely. the momentum in buy backs has been really significant among european stocks, and i think that could continue because there is cash on balance sheets that can be deployed that way. if we were to look at the top 20% of companies in the stoxx

600, those outperform the overall stocks over the last ten years. so the more buybacks we have, i think that's a very significant support for european stocks going forward. >> what about the economic picture in europe. >> it's been kind of mixed i'm going to stay with you for a second we've seen a lot of mixed isp reports with softness in germany and france and the bigger economies. in the u.s. we're seeing stronger than expected economic reports. here in europe it's been mixed and soft how does that play a view when it comes to european equities? >> interestingly we're seeing something of a hand-off where we're seeing a bit of deceleration in the u.s. relative to europe europe has gained a little momentum in terms of economic growth in fact, most recently what we've seen is signs that germany and france, the who largest

economies in europe are doing better they had been laggards in terms of economic growth at the same time that inflation is -- or disinflation is progressing. so it's a very attractive picture in relative terms for sure. >> maximilian, i'm going to give you the last word when it comes to this. how are you viewing european equities longer? i know kristina feels like it's improving, but it seems like a lot of soft manufacturinging numbers and even composite numbers. in your mind, what's the economic situation in the eurozone and how does that form your view of the equity market >> yeah, so i have a bit more positive view on the data. if you look, they've turned from pretty negative six months ago

to quite positive just now if you look at it, that's also been positive. there's regional sentiment indicators so some things we have been seeing is q1 growth. now i suggest they've moved up there. the growth forecast, for example, for germany, from negative to positive we're at this nice turning point. that is one reason to believe we'll have earnings growth over the coming month just wreck we've had four quarters of earnings growth already. that means the base effect that we have going forward starting in q2 are very favorable on top. if you have a nice recovery, i think it's likely that we'll have pretty positive growth in earnings, which should be a surprise to market, different to the outside. we already have positive earnings for the year. we think they're about right so fewer beats in the u.s., more

beats in europe. >> kristina, maximilian, great to have both of you here. coming up, the one word key investors need to know and our next guest races stock expectations we'll be right back after this break. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ (grandpa vo) i'm the richest guy in the world. [thunder rumbles] 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 to "worldwide exchange." it's time for your w.e.x. wrap-up. we begin with the fed rate cut still calling for three quarter cuts this year. elon musk is testing robo taxis. china welcomes that proposal. the u.s. is revoking its export licenses to sell laptop and lancet chips to china. huawei jumping 12% in march. this is a sharp turnaround from the 24% sales drop in the 50s two months of this year. and reddit soaring revenue growing by 48% and marking what steve huffman calls the beginning of a new chapter of reds did. today, instacart, affirm,

uber, arm, and airbnb are reporting. coming off their first five-day win streaks, take a look at futures. earlier today we saul awe all the futures fractionally lower the nasdaq higher, the s&p slightly higher. the dow opening up 10 points higher as well joining me now, simeon from london i want to get right into it. what's your w.e.x. word of the day? >> the word has to be earnings, and i kept it to one word this time. >> we're proud of you. so what is it about earnings that you're focused on right now? is it the better than expected earnings or a particular part or sector you're focused on >> i think they're a little bit liar than what we need so much of a focus on interest rates. the truth is even if we had a full 1%, 100 basis-point move in

interest rates either way, historically, that's about a 5% impact on valuations so we've got to look at the pe multiples. they're high for this level of interest rates we've got to look at earnings. we're getting about 5% or so year over year growth in the s&p. it's a little light. then we focus on tech. that's where the quality is, right? that's the story, that's the narrative, and, yes, the nasdaq has been delivering and right now is going at about 20% year over year earnings growth, and so the answer is we must be in the clear except rewind back to the beginning of 2000. you would have said the same thing about the tech sector by 2002, you had negative -- >> i understand the reference to the dot-com bubble but i want to go to the stock ticker i want to ask you.

i'm look at the performance of it tech sec store up double digits. >> here's the key, frank we go back to this durability of earnings we may be in not just a little bit of an inflated price period in the technology space but also one of profitability we've seen news about earnings we've seen dividends, the announcement from meta accepting dividends. it's companies telling you they're confident about the future and that's what's important about this etf and this strategy of course, as an equally weighted strategy, it's been left a little bit behind in the top-heavy market, but the signaling impact of those and the durability is critical. >> simeon hyman, we've got to leave it there one more look at the futures they swung into the positive

territory just a short time ago. it looks like the dow would open up 20 points higher. that does it for "worldwide exchange." we've got "squawk box" coming up next we've got tiktok coming up and they strike back the white house says microsoft will spend $3.3 billion to build a new ai center in wisconsin details straight ahead. plus uber is expected to report later this hour we'll bring the latest it's wednesday, may 8th, 2024. and "squawk box" begins right now. ♪ good morning, everybody.

welcome to "squawk box" right here on cnbc we're live from the market scare at times square. i'm becky quick along with joe kernen and andrew ross sorkin. here we go wednesday organization're looking at the s&p futures it's not a lot to write home about. it's virtually flat. we had marginal moves yesterday with the nasdaq slightly hoyer we've seen the others up two days in a row. take a look at treasury yields right now it looks like -- 10-year is a little higher the 2-year is at 284 i don't know if you heard knneel kas kashkari he wouldn't take cuts off the table, but he wouldn't take hikes off the table. we could do nothing.