And company. Shares of Donald Trumps 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. Its tuesday, april 2nd, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Thank you for being with us. Lets 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 premarket. 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. Lets 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. Im speaking about shell and bp which means the gas sector shares are going up. Lets look and see what is moving things along. 2 gain for basic resources. That means glencore is managing to move higher, frank. Thats the picture right now from europe. Thats the picture from europe. Arabile, ill 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. Im 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. Its real. Were 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. Lets 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 markets 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 weve 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 cant 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 precovid 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. Were 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 premarket. 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 januarys 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 Advisers 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 yesterdays session. And at ts 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. Id rather work on saving for retirement. Or college, since you like to get schooled. Thats a pretty good burn, right . grandpa vo im 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. Its 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 thats not rich, i dont 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. Dont 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 . Thats kinda my thing. Welcome back. Its 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 preorder, 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 CenterResource Center said it rose 80 last year to a record high. Lets 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 ts stock closed over. 50 lower yesterday. Not a huge drop. We have seen other companies with a deeper impact after a hack. Im 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. Im surprised we did not see a deeper stock impact. I think were 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 were seeing . Its a doubleedged 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 wouldbe homburs te yeo get in the already hot Spring Market. Well have that and more when Worldwide Exchange returns. Power e trades easy touse 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. Lets 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 longterm story of tesla or the shortterm story with the performance of q1, how big of a factor is that in the decline . Its 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 50day moving average. Over the last few days, trending higher. 180 is the key level on shares . I would say for the shortterm 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 im making this case is because the technicals will be impacted by that until there is innovation and then selfdriving cars is the biggest. We could see the stock breakdown from here to 150 and if it cant 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 havent 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 awardwinning 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 uptotheminute 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. Wouldbe 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. Its tuesday, april 2nd, 2024. You are watching Worldwide Exchange here on cnbc. Welcome back. Im frank holland. Lets 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 dows premarket 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 tenyear 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 hitti