Highs. If you look at what is happening with the treasury market, this is the one to watch as we get the cpi later this morning. Yields are lower. Tenyear yield at 4. 09. Twoyear yield at 4. 53 . If you have been watching the price of gold, that has hit a new high yesterday. Bitcoin is flat. Just below 7 72,000. Lets talk about the concerns at boeing. Faa saying during the audit, it found multiple instances, many, in which boeing and Spirit Aerosystems failed requirements. Now the report is revealing details of the issues citing materials from the slide presentation that it reviewed on it. Reports said boeing failed 33 of the 89 audits that looked at aspects of the production process. Spirit aerosystems failed 7 of 13 such audits. At one point, the faa observed mechanics using a Hotel Key Card to check a door seal. It showed mechanics applying a liquid dawn soap to the door as a lubricant and cleaning with a cheese cloth. When asked if these were appro appropriate, the representative said they were reviewing all identified issues for corrective action. The spokesperson for boeing says we will developa comprehensive action plan to show strength and safety. None of this is reassuring. That was my comment at the end. Not the quote. If we were there and they said you have to do a couple of things, we might come up with lets try some dawn soap. If we were working without any Safety Practices that had been taught or put on the line . If they said figure it out, we would jerryrig. We dont know how to do it. You try to find some things and thats what we would do. I dont want to fly on a plane that im fixing. Or putting together or building. Whats cheese cloth . I feel i know what a cheese cloth. You strain stuff. It is like a rag. What is going on with this company . Spirit or both . Both. Both. You have that many failures when the faa watches you . 713 of 13. The whistleblower found dead in the middle of testifies of problems he had seen there. He was a retired Safety Standards manager complaining about everything that had happened and how safety and standards procedures dropped dramatically, this his words, i watched the video of what was going on. I dont know the details. He was found dead of an apparent selfinflicted gunshot wound. Whatever the details vandsurroug his death, the video i watched him of describing the problems there sounds like massive issues. He said it was happening. They were cutting back on the Safety Standards in order to get the planes out faster. Again, this is just testimony, but testimony from a retired boeing employee who would have seen a lot. Yeah. Is bastian on today . Yeah. Other things. Oracle shares higher. 1. 41 beat estimate of 1. 38. Re revenue was below expectations. The cfo said the company added several large, new cloud st infrastructure contracts. Microsoft was one of the large orders. Oracle is good. Oracle is Building Data centers for microsoft and azure. Disney turning up the heat with the proxy battle with nelson peltz. Here is part of the ad. What is the harm of letting nelson peltz have a seat on disneys board . The answer is simple. If they succeed, disney could suffer the same fate as other Great Companies peltz infiltrated such as ge and dupont. Nelson attacks companies to the shareholder value detriment. The video also criticizes peltzs board nominee saying he was a former Disney Employee which was passed over for a row mo promotion a decade ago. The presentation was long on as aesthetics and excuses. You want to talk about that . No, it is interesting to see it. What do we do . The bigger question i would ask is on the nelson peltz front, he sold shares in the company in the past couple months. If you are an activist investor and trying to demonstrate to the world that you are committed to the company, you shouldnt be selling shares in the hidmiddle the proxy contest. How much does he have left . 6 million. I asked that question yesterday. 0. 001 is enough to amount that wealth . Thats what is happening. He has more than i have. He has more than you do. Maybe not comcast. Probably comcast. Coming up, jpmorgan chases Ceo Jamie Dimon urging the fed to wait before cutting key Interest Rates. We will get you ready for the cpi report due out at 8 30 a. M. Eastern. Squawk box will be right back. Announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. [storms sound] whatever weather comes your way [wind and snow sounds] weathertech has you covered. [bird chirping] [laughing] with our laser measured cargoliners. No drill mud flaps and floorliners. To secure your phone dont forget the cupfone. Order yours today at weathertech. Com. You never know when its gonna be a weathertech day. Perfect weather today. My name is oluseyi you and some of my its gonna favorite moments day. Throughout my life are watching sports with my dad. Now, i work at comcast as part of the team that created our ai highlights technology, which uses ai to detect the major plays in a sports game. Giving millions of fans, like my dad and me, new ways of catching up on their favorite sport. Jpmorgan chases Ceo Jamie Dimon out with a market warning saying he would to the take the prospect of the u. S. Recession off the table yet. Speaking at the Australian Financial business summit, dimon said the world is pricing in a soft landing at 70 to 80 . He thinks the odd of recession is rouaround 60 . He says that doesnt add up. Indicators are discotorted by t pandemic. He said the fed should wait past june before cutting rates. He said the feds credibility is at stake. It is interesting. We will get to our guest in a second. Dimon thought the economy would stay hot. He said dont assume a soft landing. He is in the camp that it will stay so hot that the fed will go further than they like. He is worried about stagflation. That is more. Stagflation implies you get the slowdown, not that you stay hot. That the fed has to do more than it wants. In a declining he said that the whole time. That is not the shift. He is saying the economy is good and we should i didnt know combined with that and he is saying that makes the feds job harder and result in recession. He doesnt think they should be cutting in june so quickly. Wait and see. He has been trying to keep the rates high the whole time. Interesting. I dont think he is talking no, no. He is offering the market is wrong about the idea we will have the cuts. Everybody says cuts in february, march, april. He kept saying no. He said it will stay high and we wont get a soft landing. You would like it. Unless there is hasnt gone away. The february cpi out at 8 30. There is an increase of 88. 4 month over month. Jpmorgan chase private bank. You didnt talk to jamie . I missed him. You saw he called. You didnt answer. Thats not true. I was here. Would you wait until june . You have a different lets not talk about jamie dimon. What do you think as you are part of the company . Our case is it will be june. The cpi data and the three that follow that before the june meeting are going to dictate the direction. It seems clear to us the fed is balancing the risks of overtightening and slipping into recession and easing too soon and potentially skating us into the scenario where inflation does exaccelerates and we have bigger problem. When you talk about it, it seems like threading a needle. For us to assume it is a soft landing is a stretch. They have to get it right. I think with the way data has been shaking out is not a stretch. That is why the market has come around. A miracle. First time ever . You can look back to the 90s and argue we had a soft landing there or rate before the pandemic, if the pandemic never happened, had we gotten the soft landing . We have the optimistic outlook on equities and we are reminding to not get complacent and we are making sure people have a full position in case things dont go your way. Of all of the difficult we experienced in trying to handicap this, it all depends whether growth and inflation or a Strong Economy and inflation are definitely related. Lately, we have been saying it is not necessarily a direct link. You could have a decent economy and inflation could slow as pandemic supply constraints goes away and you can have both. You dont need to go to 5 unemployment. Right. To have inflation come down or are we back with growth and inflation being the same thing . A couple of years ago, we were in the same camp thinking in order to solve the inflation problem, you probably did need to see the weakness in the economy especially with the labor market. What is causing us to shift our view is the labor market tightness has been solvedly by e fact you have the increase in supply. It helped release some of that tension. Combine that with the fact that Corporate America is more resilient to the level of Interest Rates and the growth picture still looks to be holding up okay. Even consumers have fixed mortgages. That may be the fed not getting the bang for the buck for that. Would you say that as a firm that you changed your opinion . Waller . There is that thinking now. That is different than what we used to think or a modification of it. Absolutely. You have changed that . Right now, our call is that growth can hold up while inflation continues to come down. I think it is this process of learning and recognizing the pandemic brought about a lot of the distortions that made the models harder to apply. That is the opposite of stagflation. Right. Thats not at the top of your list of concerns. The other issue is horrible. Growth comes down and inflation holds up. Thats doom. Thats death for financial assets. Ive seen it in the 80s. 70s and 80s. You get the misery index. Of course. We have been fading the stagflation concerns for a while. They hit a fever pitch when russia invaded ukraine and the commodity price spikes. It is not our base case. If you are someone concerned about stag applfstagflation, mau have more than stocks and bonds. We look to real assets as a hedge against that. I think you are very brave. You just said, jamie, you have no idea what you are talking about, kind of. Not that at all. As a client you should have taken his call today. You made him feel better. Perhaps. He is a little bit concerned about these things. You are looking at 0. 4 . 40 basis points. Big picture is the longer term trends. Obviously, we know option markets are telling us to brace for one of the biggest postcpi prints. They are calling for a 90 basis points move if the number is hot or lower than estimates. By and large, we are looking for a transmission of the cooldown in the labor market to come through. If you see an increase for the second month in a row, does that concern you . People say january was a oneoff. I think there was seasonality in the january data. Given were in the position with the fed staying patients with t with the resilience of the economy. That is not different from what jamie dimon is saying. It did set us up. It was a oneoff. The either one is not surprising. It will be a surprise. No one knows. Thank you. Thank you. Coming up when we return, we will talk tiktok because the tiktok ceo is on capitol hill today ahead of the vote expected on the ban in the u. S. Later this hour, Delta AirlinesCeo Ed Bastian will join us on the set. Well be right back. Why choose a sleep number smart bed . Can i make my side softer . I like my side firmer. Sleep number does that. The queen sleep number c4 smart bed is only 1,599, save 300. Shop now at sleepnumber. Com you know doug, ever since switching to workday youve been a real rock star. Rock star . What do you know about rock stars . Billy idol . I mean wheres the skintight leather . My shoes are leather. Wheres the unnecessary zippers . That thing billy, rock star is just how doug feels when he uses workday. Thanks, rory. Ill show you rock star be a finance and hr rock star. Workday. For a changing world. Billy idol just stole your golf cart welcome back to squawk box. 1 in 5 teenagers say they use tiktok almost coulnstantly. The 38 of those teens argue with the parents over the use of social media. Joining us right now is founder sonny who has been on the broadcast many years ago when you had an awesome service, which i loved. I dont know if you remember. The handwriting service that writes the notes for you. Sold it and made a small fortune at the time. They shut it down. I was saying during commercial break that i want his service back. Lets talk about legends this morning. Thank you for having me. Tell us about what you are doing. I will say without outing my kids, there is a little bit of this going on all the time and it is so close to the face that it makes me upset sad. I think a lot of parents feel this way. Legends is a platform to teach kids confidence. We use videos and activities and a. I. Assessments to give kids practical tools in challenging situations. Box breathing or reframing. I started doing it. What . It is meditation. How do you slow down and take it easy . As a parent, i see the Mental Health issues as young adults. Online is a big role to play in it. However, all of our kids will get online. I spent the past three years talking to thousands of families and experts and say what will we do about this problem. I see the problem, but not a lot of solutions. The most susceptible kids are the ones that lack confidence. Right now, i think that kids are losing confidence quickly between the ages of 12 and 14. Confidence is a skill. 12 to 14. That is when they hit tiktok . Kids in middle school. The confidence rates are declining. Because of Cyber Bullying . They are always there. We cannot ban bullies in school. We cant ban the bad guy. We need to actually arm kids with skills they need to improve. It turns out confidence is a still you can practice. How do you out the addiction . Part of the challenge is not just Building Confidence through an app like legends or platform, but getting kids to want to do that and use your Service Rather than keep scrolling . I think we think about technology as a bad thing right now. I think that is the biggest mistake we will make for the next generation. Technology is a powerful tool. We need to use it to help kids. When we do things it turns out of 65 of people used tiktok to do their homework. Algorithms can be good. We use shortform video to put good content on. A couple of generations ago, the bad screens were tv. Tv is bad. When they decided people are watching tv, lets put something good on. Sesame street was a good show and they mapped it to jim henson. Is this an app . How does it work . Its a program you use in a mobile web app on any phone. We send parents to do it alongside their kids because learning is best with parents and children together. We send you a text every day. Everybody loves videos as you all have seen with your kids. It is a great video of the rock talking about how he dealt with not getting into the nfl and identifying the inner critic. You do an activity of naming my own inner crcritic. They use that tool for the challenge and we assess how they are doing. We can give them more content like that. These personal learning programs will be the future of how kids learn. What is the age group . 7 to 11. We focus on Elementary School kids to build skills before they have issues. Right now, everything is an intervention. An issue and throw somebody at it. We need to prepare people before issues arise. Thats why we focus on it. What is the riprice . 10 a month or 70 a year. Consumer . Direct to consumer product. It is difficult. Schools have not changed in a listen long time. Americans want different skills for their kids. New skills for a new world. Technology is going to give a huge opportunity to add new ways to learn and new things to learn. Sonny, thank you for coming in. You had one successful venture already. I want to get my kids to use it. Thank you very much. With me. I need it. Thats what im saying . What is the upper limit for age . I am learning so many things. We were never taught these skills. We wonder. You do it alongside your kids and we find most people love it because it is quality time you spend with your kids. It is just five minutes. It is an interesting video, but you feel good about it and you learn a lot in the process. Thank you, sonny. Thank you. When we come back, we have details on Consumer Spending from the cnbc nrf retail mo monitor. Steve liesman will join us next. As we head to break, lets look at yesterdays s p 500 winners and losers. Wall street forecasts over 100 billion in sales for antiobesity drugs known as glp 1. But these treatments are largely administrated through cumbersome injections. Enter Lexaria Bioscience with their patented oral delivery technology. Early studies were glp1 suggest reduced side effects and better blood sugar control with reduced spikes. Lexaria bioscience. Transforming the future of glp1 drug delivery. At Morgan Stanley, old school hard work meets bold new thinking. To help you see untapped possibilities and relentlessly work with you to make them real. Breaking news from 3m. The company says ceo mike roman will step aside as ceo and take over the role of executive chairman on may 1st. Bill brown has been appointed as ceo. He has been the chairman of l3. The board waived the retirement age for roman and brown. Roman talks about how they have been on a transformation journey over the last several years. The journey has yet to payoff for shareholders. The stock is down 9 versus the market up significantly. We will continue to watch shares of 3m. Up 69 cents right now. Fresh data on the consumer and whether the january spending slump continued into february. Steve liesman joins us with the nrf retail monitor. Good morning, steve. Reporter good morning, becky. Bouncing back from the january dip with the help of the leap day, of course, but extra ganchs f gains for the day. We get spending data which showed a 1. 1 gain using data without autos and gas. 0. 2 decline in january. The year over year showing 6. 3 . Core retail which includes restaurants up 1 compared to 0. 4 decline in january. A very strong year over year. A lot of that coming from the leap day. Those 1 gains go away, however, down to 0. 4 and 0. 3 which is modest, but still on the Positive Side when you adjust for the leap day. They show a rebound from the january decline and maybe not the consumer slowdown. Consumer go