Blowout results. Layter, boeing under faire again as regulators open a new investigation. Its tuesday, may 7th, 2024. Youre watching Worldwide Exchange right here on cnbc good morning and welcome to Worldwide Exchange. Im coming to you live from cnbc london thank you for being here with us we kickoff the hour of the u. S. Stock futures after the higher session for wall street which saw the dow and russell 2000 close up for the fourth straight session. The the big focus today is two stocks apple hosting the event at 10 00 a. M. Today where it is expected to update the lineup of ipads for the first time in nearly two years. Apple shares up nearly 1 . Disney is out with the results today and answering questions after the kitchen sink First Quarter. Disney is 50 from the 52week high and up 17 reporting. Disney shares up 1 . We are watching the bond market with the tenyear yield below 4. 5 the benchmark at 4. 45 important to note, we have been talking about it all week long the twoyear note at 4. 8 . It was 5 days ago looking here at energy and we continue to watch developments from the middle east take a look at oil which is fractionally higher. Wti at 78. 55 a barrel time for the check of the top corporate stories with silvana henao. Silvana, good morning. Frank, good morning apple is reportedly developing its own chip for a. I. Data centers. The project is code named internally as project ac dc. Short for apple chips and data centers. It has been in the works for several years. The report adds apple is working with Taiwan Semiconductor to design and begin production with the chips with no release timetable. U. S. Regulators are opening a second investigation into boeing taking a look at whether or not its employees falsified records for the 787 dreamliner jets. Boeing may not have inspected some jets for adequate bonding and grounding where the wings of the jet meet the body. Boeing says any issues do not make the jets unsafe. Ahead of results today, disney and comcast are looking to hire Financial Advisers to resolve an issue over how to value comcasts 33 stake in hulu according to the report, Jpmorgan Chase valued hulu for disney close to 27. 5 billion and Morgan Stanley valued hulu at 40 billion frank. Silvana, thank you very much. See you later on turning attention back to the markets. The rebound showing fresh momentum as stocks come off backtoback positive sessions and renewed hopes of a summer rate cut are looking for sentiment. The top voices are focused on that at the milken conference. Goods are in better shape supply chains are in better shape. Service is the sticky one. Things are headed in the right direction. We love it if it would go faster that way. With deglobalization, were likely to see a level of Inflationary Pressure of goods be higher than it was for the last 30 years. The fed has to know that theyre thinking about goods are likely to be higher baseline for the foreseeable future and Services Still unacceptably high inflation is going to be popping up in very different ways you cant just buy commodities or tips. You have to spread the assets. Lets discuss how to position from here with douglas b bonaparte. D doug, great to have you on the show we heard from the leaders talking about the stickiness of inflation. Jane fraser said a hard landing is hard to come i dont think rate cuts are the solution higher for longer is the fed mandate. The longer we can stave off zero Interest Rate policy, it puts more ammunition in the feds corner if things going south on the hard landing i dont see why with the decent prints you have an economy growing and inflation coming down. Why we want to cut rates so quickly with things moving along where they are right now interesting a lot of people think that the markets need to see guidance that the fed will cut rates. I want to go to one of your other calls. You are saying right now is the time to take advantage of highe for longer with fixed income you had the tenyear yield which would be a good time to take advantage of higher yields if the fed cuts rates. You still have one or two slated for the year you get to clip a high coupon. As much as i think they shouldnt for the time being, i dont think there is anything stopping the fed from getting that one to two. The market may price in no cuts this year. Fixed incomeattractive you get to clip a high coupon and park appreciation. You are part of the chorus of fixed income being attractive right now. We have another fed speaker speaking today neel kashkari. Is that a market mover or have we finally decided it will take longer to cut rates and do you think investors are more focused on the earnings which are surprisingly strong . Yeah. If i was an investor, i would focus on earnings right now. We are going print to print. From one to another in terms of the market rallying or selling off a little bit well see if his words have any bearing on the market. When we see the fed speak, whether kashkari or jp, there is some selling off here. Sometimes maybe the fed shouldnt speak and let the market do its thing. Jp. You have nicknames i like that. Thank you very much. Coming up on Worldwide Exchange, more to come including the one word that investors have to know today. First, a big day for money movers in london annd wall street shares of lucid losing juice and a blowout report from ubs. Later, more on what to expect from apple at the event being held lerat today more still ahead on Worldwide Exchange. Stay with us meets bold new thinking. laughter at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. Old school grit. New world ideas. Morgan stanley. Welcome back to Worldwide Exchange. Time for the big money movers palantir beat First Quarter profits. As you can see, shares are lower down 9 . The guidance was below estimates. Lucid is keeping production targets in tact, but reported a wider First Quarter loss and revenue that was just slightly below forecast Company Shares are down 8. 5 the Company Expects higher Capital Spending this year something the ceo defended yesterday on cnbc. We are using our technology as a key enabler which uniquely allows lucid to provide an ev off offering. Shares of hims and hers is swinging to the First Quarter profit and raises outlook for the year the Company Expects to hit the growth target early as it continues to add subscribers for the personal health plans. Shares are up 16 . It is a big day for movers in europe. Arabile gumede is here with more banks and chips and Everything Else reporting today playing some catch up trade because the uk was on holiday mode yesterday as well you are seeing that catchup trade. The smi is moving higher in switzerland because ubs reported the earnings being on track. We will get into that story in a bit. 1 higher out of italy is the overall market picture semiconductor. Infineon lowered the top line forecast for the year citing demand weakness in key markets the german chip maker posted 3. 6 billion euro that is a 12 decline on the same quarter just last year. I did manage to ask the ceo about his expectations for the upcoming year. You have to confess that previous to the fullyear guidance, we had to lower expectations previously, we were guiding for 16 billion in revenue. Now we are guiding down to 15. 1 billion. Now to the chemical sector where bp reported earnings of 2. 7 billion that is down 40 on the year the oil giant said results reflected lower energy prices. Outage of the key u. S. Refinery with weaker fuel margins that is down in the Early Morning trade across europe. And unicredit raising fullyear guidance after the net profit for the First Quarter of 2. 56 billion euro. That is well ahead of the 2. 13 billion euro that was forecast which is 1. 1 higher arabile, thank you. Shares of ubs are jumping on First Quarter results. The company pivoting back to profit after two quarter losses. Silvia amaro has more on that with the sitdown with the ceo earlier. Silvia, over to you. Reporter thats right. We are seeing strong results from ubs for the First Quarter of 2024. The swiss bank provided a revenue beat, but a net profit beat net profit at 1. 75 billion u. S. That was well above what analysts were expecting. Cti ratio was above what they were expecting when i had the chance to sit down with the ceo Sergio Ermotti, he explained the United States played a Critical Role with the higher revenues in the Investment Banking division. Take a look. In the news, we grow on the share of banking revenue of 20 to 30 on the year on year basis. That is aligned to our strategy to reinforce our france. Thats the main driver that is offsetting the slowdown in revenues in fixed income and partially offset of the equities of 3 . Reporter higher revenues in Investment Banking and Strong Performance with the Global Wealth management. We know there is one key question with the future of the lender that is the potential new Capital Requirements from the swiss regulators in the meantime, frank, it is a good day for the bank and share price is proof of that frank. Ubs shares up 8 . Silvia, thank you. Coming up here on Worldwide Exchange, we have a Worldwide Exchange, exclusive with the ceo of okta. His take on protecting data, a. I. And the cloud all that is coming up when Worldwide Exchange returns. Stay with us 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. vo sail through the heart of historic cities and unforgettable scenery with viking. Unpack once, and get closer to iconic landmarks, local life, and cultural treasures. Because when you experience europe on a viking longship, youll spend less time getting there and more time being there. Viking. Exploring the world in comfort. Welcome back to Worldwide Exchange. We are six months away from the election in the u. S. Today, we reveal a cnbc Generation Lab poll on voters 18 to 34 stand on the economy and work and their lives when asked who they would vote for vieright now, it is 35 and between biden and trump. 29 support Robert Kennedy jr. Lets discuss this further with the founder and ceo of Generation Lab cyrus, good morning from london. Based on the data, why do these people 18 to 34 believe trump is better for the economy a great question. Thats a great question. Biden upon the youth vote by 24 points this 2020 this is data you highlighted is part of the long side of data that is documented biden sliding with the young voters rfk is a massive wild card here. He has 29 in the survey you you cant expect that number to drop as you learn about rfks passions they dont square closely with young voters a lot of smart people have said that the war in gaza will decide the youth vote one way or another. The data does disagree each quarter of our polling with cnbc, it found jobs and the economy is number one. Jobs and the economy is the number one issue for voters between 18 and 34. I want to get some Something Else as well tiktok 70 of respondents want tiktok to operate the way it has. Do they not see safety concerns . Why is it they dont see any issues that our u. S. Lawmakers see . I think they do if gen z had a logo, it would be dont tread on me with a tiktok logo on it instead of the snake. We asked who you supported for president and i would say i support trump and then you would assume that person chose and then the results blew my mind. Okay. Another hot button issue is abortion im looking at the data. 60 would say they would not move to a state that limited access to abortion how big of an issue is that based on this upcoming election with this poll huge. If im sitting in the csuite of the fortune 500 company and my governor is considering an abortion ban, i would call him up to make sure they understand the implications of the abortion laws and how much my state can compete. It is what happened with crime in illinois. I wonder how long it is before you see a ceo move shop based on the abortion laws. Last question here on cnbc is money and finance. I thought this was fascinating you talked to the respondents where they are investing 42 said they are not investing at all another 18 say my money is in cash give us a sense. Do these younger people not see the gains in the stock market or are they not interested . Why are they not investing this is the music in the economy the last few quarters. We are trying out the sentiment and economic indicators. With young people, it is easy. Young people have a job, but not paying them enough if you are not paid enough, that recordsmashing stock market is something you will participate in job market is like getting nose bleeds behind the pillar up in the rafters. You count the attendance number overall, but can you see the game cyrus, this is interesting. Im going to remember you saying this generations flag is a tiktok logo cut up like the dont trade on me snake. Thank you for being here we appreciate it if you want to see the details of the Generation Lab poll, they are up online. Go to cnbc. Com for all the results. Time for the check on more of the headlines with nbcs Frances Rivera in new york good morning. To frank, good morning. After resfjecting a ceasefire, israeli entered gaza and the idf said it conducted a counterterrorism operation hours ago, they have taken control of the gaza Border Crossing with egypt. Here in the United States, eight tornadoes reported in the Central Plains and the south in oklahoma, one person is dead and others are injured after the small town took a direct hit in just a few hours, testimony continues s in just a few hours, testimony continu in the hush money trial of trump the jury heard testimony from jeffery who oversaw the Accounting Department of the Trump Organization he spoke about reimbursing the payment to stormy daniels. He did not talk to mr. Trump about the Business Records you are up to date with the headlines. Frank, back to you frances, thank you very much. Coming up here on Worldwide Exchange, why technical stock guru Katie Stockton and jim cramer both think the worries are behind us. Much more coming up. Stay with us and theyre all coming . Those who are still with us, yes. Grandpa whats this . Your wings. Light em up gentlemen, its a beautiful. Day to fly. Its 5 30 a. M. In the new york city area 10 30 here in london there is more ahead on Worldwide Exchange. Stocks looking to build more momentum what jim cramer and our next guest says the relief rally is starting to show signs of life. Apple is a focus for investors today. The tech giant is expected to pull back the curtain on the popular ipads. Will the devices be enough to bring life into the slumping stock . And fighting a. I. And Cyber Security how government and Business Leaders are looking to further tap in to keep your personal information protected. It is tuesday, may 7th, 2024 you are watching Worldwide Exchange here on cnbc welcome back to Worldwide Exchange. Im Frank Holland coming to you from cnbc london we pick up the half hour check of the u. S. Stock futures with the dow coming off the fourth positive session in a row. We have a development. The nasdaq is slipping into negative territory the dow hitting the highs of the morning. We are looking at the stocks lifting the dowin the premarket walt disney at the top of the list ahead of the earnings before the bell. Nike and apple and intel rounding out the top four. Disney is one dow stock to watch with the Second Quarter results released ahead of the open up 17 since last reporting three months ago also, the bond market this morning with the tenyear yield holdi Holding Steady at 4. 56 . The yield has fallen 20 basis points in the last week. Now we turn to apple they are kicking off the event today at 10 00 a. M. Eastern time expectations are for tim cook to release a new ipad fiscal Second Quarter results show the device was down 16 from a year ago. Steve kovach skrojoins us with e frank, this is the first launch of ipad models since october of 2022 and we have been seeing ipad sales fall for the last four of five quarters because if apple doesnt make new ipads, they dont sell new ipads. This is a small chunk compared to the mac but this time it is important to the top line Revenue Growth