dom. >> silvana henao, we are showing the chart under chapek's time. disney lost a quarter of the value. we are down 41% for the last year the shares are up 8% to 9% in pre-market trade we'll keep an eye on it. silvana henao, thank you. >>> stocks looking to start the week lower ahead of the retail earnings and shortened trading week due to the thanksgiving holiday. best buy and dick's and nordstrom set to report before thanksgiving investors look for signs of a peak in inflation or consumer slowdown into that all-important holiday shopping season. joining me now is benjamin lau a member of the cnbc financial adviser 100 list we have featured, ben, a lot of you on the financial advisory side we want to know what clients are thinking about the current market and the outlook is. maybe the big first question is is this a market that makes you fearful or optimistic? >> right now, it is short-term we are cautious right now. you think the market is pricing too optimistic of the powell pivot. now is the time to shore up cash balances >> you mean solidify or b

. >>> let's get to the top corporate stories with silvana henao. >> dom, good morning elon musk is finalizing plans to fire asf much as half of the wor force. musk will have in-office mandate. the cost cutting measure as musk is struggling to keep advertisers on board and plans to rollout a premium $8 subscription service >>> fisker confirming to cnbc it is on track to begin production of the suv later this month and has 62,000 reservations for the vehicle. that is up from 56,000 back in august the company ceo says his company will be able to produce just over 42,000 ocean suvs by the end of next yeear. >>> executives at trump's truth social are naming parler and rumble as acquisition targets. among the documents a photo depicting a flow chart describing trump's new media empire that could also include one america news and news mask and discord, dom >>> silvana henao, thank you very much. back to the top stories. investors reviewing the fed's fourth straight rate hike and jay powell's promise to keep his foot on the accelerator. >> it is very premature to think about pausing. people hear abou

we'll all be watching. >> silvana henao, thanks. >>> ahead of opening bell. perspective on the trading week confidence of the team at bespoke investment group in years like 2022 where the s&p is down 10% and then monday's session tends to be lower and tuesday mixed and performance on wednesday and friday, black friday, tend to see the stronger returns as you see there wednesday's session gaining more than 1% with gains of .50% for the friday session for more, let's bring in malcolm ethridge and mark avallone gentlemen, thank you both for being here mark, maybe we'll start with you. you heard the mester comments on "closing bell" yesterday we're nowhere near done with the rate hike campaign you are hearing a lot more these days about journey versus destination. in other words, the number or types of rate hikes we have versus the ending rate for fed funds rate will be which are you paying attention to more? >> good morning. i watched that interview she was clear to say the fed has entered into a restrictive zone. i was reassured to hear that because at least it

let's get to the latest top stories with silvana henao >>> president biden is looking to avert a rail shutdown as early as december 9th. the tentative agreement which has yet to be ratified could be voted on by the house this week. the issue is paid time off and sick leave >>> bob iger hosting the first company wide meeting yesterday iger told employees instead of chasing subscriptions with marketing and spending on content, we have to chase profitability. iger said his team wit ll have o take a hard look at costs. >>> blockfi is suing sam bankman-fried over the robinhood shares he suffered severe liquidity crunch triggered by the failure of sam bankman-fried's ftx exchange. >>> thank you very much. when he come back on the show. fed officials doubling down on higher for longer speak as they try to reverse yesterday's losses. >>> elon musk taking on apple claiming it may kick twitter off the app store. >>> and more on the china unrest and if it is turning any heads in president xi's ner incircle we have a very busy hour still ahead when "worldwide exchange" returns after this commerci

. >> ar belay gumede out there we appreciate it let's turn to silvana henao for the top stories. good morning, silvana. >> good morning to you according to the "financial times," the plan is for the group to invest in a share sale alongside the saudi national bank it's confirmed the deal would result in up to 25% of credit suisse stock being owned by middle eastern investors, the saudi national banking, whose largest shareholder agreed to invest some $1 billion in the investment bank for a stake of nearly 10% >>> chemicals maker dupont is ending its $5.2 billion buyout of rogers corporation. this marks the first collapse of a major deal in four years over a failure to clear chinese regulatory hurdles the company had said back in september all agencies had rubber stamened the deal except for those in china and china closed its flag ship store in chai nachlt the beijing store which opened in 2013 and was tesla's first in china was shuttered last week. reuters previously reported tesla was considering closing some showrooms in malls in beijing after traffic plunged due to covid rest

. >>> to some of this morning's top corporate stories with silvana henao. >> former ftx ceo sam bankman-fried is telling his former employees his own mismanagement of company assets and risk position is what led to its sudden and spectacular collapse in a letter seen by the financial times and bloomberg, bankman-fried says he, quote, did not realize the full extent of the margin position, nor did i realize the magnitude of the risk posed by a hypercorrelated crash, adding, quote, i deeply regret my oversight failure. the letter comes after lawyers for ftx blasted sam bankman-fried's management in u.s. bankruptcy court yesterday, saying the former billionaire ran his company as a, quote, personal fifedom and spent money on items unrelated to the business like vacation homes in the bahamas. >>> unrest in china's iphone city overnight reports of hundreds of employees clashing with security personnel over ongoing contract disputes, strict anticovid controls and poor living conditions an unverified social media post, workers can be seen pulling down fences and arguing with personnel. they have bee

silvana henao is here with those. good morning, silvana. >> seema, good morning president biden confirming the face-to-face meeting with president xi jinping the president said he plans to meet with the chinese counterpart on the sidelines of the g20 summit in indonesia. he plans to bring up how the u.s. and china can avoid conflict he added he won't make concessions on critical issues if it takes place, the meeting with biden and xi would be the first face-to-face between the two leaders since biden took office. >>> and hasbro cfo will retire once a successor has been found. deborah thomas has been at hasbro for 24 years. 13 of which in the cfo role. this comes after chris cox took over at ceo. >>> and twitter's pay for verification system facing a wave of fake accounts. elon musk's social platform rolling out $8 a month for blue service yesterday and so far spoof accounts of lebron james and aroldis chapman and connor davis have been ususpended. a spokesperson for twitter did not immediately respond for a request to

. >>> let's get a check of the top stories with silvana henao >> comments out from the fed head suggesting that the central bank is far from done to combat high inflation speaking yesterday, governor christopher waller says they may slow at the next meeting, but it is not seen as softening waller said the markets should pay attention to the end point of increases, not the pace of each move. the end point is likely still a way off. re >>> apple shet shedding light on the mixed reality head set the listings suggest the company is looking to build a service for 3d content played in virtual reality. apple is working on its own world similar to the metaverse >>> and spacex buying a advertising campaign on the newest member of the portfolio spacex ordering an ad package on twitter to promote the starlink service in australia and spain that type of package which puts a brand on the very top of the main twitter timeline runs upwards of $250,000. >> silvana henao, thank you. >>> let's get back to the breaking news. president biden and xi jinping holding the first face-to-face meeting since presiden

let's get to some of the morning's top corporate stories with silvana henao >>> seema, good morning. elon musk kicking twitter into second gear pulling more than 50 tesla employees from its auto pilot team to the twitter takeover according to records seen by cnbc, a number of employees from the musk ventures are authorized to work at twitter, including those from the boring company. this amid reports that musk is creating a circle of advisors and employees from the business empire to help reimagine twitter. >>> oil and gas giant bp with third quarter rosprofits up $8. billion. the company also announcing another $2.5 billion in share buybacks bp is committing to cash flow for shareholder returns. >>> and university endowments are falling back to earth. according to estimates, the median result in the fiscal year was a loss of 7.81%. the worst showing since 2009 among the worst performing universities stanford and brown and m.i.t >> concerning numbers there. thank you. >>> let's turn to a major story in the uk and bank of england restarting the delayed quantitative tightening today. a

silvana henao with the headlines. thank you. >>> the uk government looking to put liz truss and her failed fiscal policies in the rear-view mirror today we have arabile gumede with more arabile, this will replace the mini budget we saw from truss. how optimistic are britons over what this will lead to >> reporter: they certainly aren't as optimistic from some of the words we heard. i got to speak to a treasury spokesperson not long ago, dom dominic. the budget today will prove how britons are paying for the past mistakes from the previous government it is essential for the growth of the uk economy. we are seeing cpi at 11.1% you saw growth go down which was negative 0.2% for the third quarter. that means we could see recession in the uk. the bank of england governor andrew bailey said we could have the longest recession on record. if that is the case, then jeremy hunt's statement will have to ease markets which may be the first call and then look how exactly you can stabilize the debt hole the government sits with the

. >>> let's check on the top stories with silvana henao >> seema, good morning credit suisse announcing steps in the bid to restructure investment banking operations. the lender is selling a significant portion of the security products group and other financing businesses to apollo global management the price was not revealed credit suisse says this along with other sales to third party assets will reduce the group to $20 billion from $75 billion >>> a third railroad union rejected the tentative contract agreement. the international brotherhood boilermakers rejected the deal which was reached back in september. last week, two other unions voted down the contract and agreed to extend the deadline to december 4th. >>> the department of transportation fining frontier airlines $2 million over delayed customer refunds this is part of the $600 million of penalties of frontier and five foreign airlines stems from flight and refund issues in the early days of the pandemic complaints of refunds accounted for 87% of the complaints filed in 2020. i had problems. >> i think everyone did. that is wh

. >> aditya bhave, thank you >>> let's get a check of the stories of the day with silvana henao. >> good morning. softbank with quarterly profit the japanese company notching that profit after selling stake in alibaba vision fund totaling more than $7 billion with write downs in doordash s softbank expecting $1 million in losses on ftx. >>> and gap is selling on amazon customers were able to buy gap merchandise through third party sellers, this is the first time that gap itself is selling its products on amazon this comes amid a series of setbacks as it fights to boost sales. >>> berkshire shedding stake in us bancorp it owned over 53 million shares as october 31st. that is down from 144 million shares at the start of the year. b it did not give a reason for the selling. >>> and eli lilly is not offering free insulin. someone impersonated the brand on twitter eli lilly is in conversation with twitter on the matter. >> this needs to be fixed. >> it really does. another one with more issues we had heard about lebron james. just lots to keep an eye on. >> silvana, thank you. >>> coming up o

silvana henao. hi, silvana. >> hi, dom according to bloomberg apple will get the semis currently under a plan in arizona. that facility is expected to come online in 2024. the report adds that tim cook revealed the move during an internal meeting in germany, adding that apple would buy more european made chips as well. >>> elon musk offering a new date for the rollout of twitter's revamped subscription verification service, musk tweeting that twitter blue will roll out november 29th to make sure it is, quote, rock solid. the new date comes just a few days after twitter paused the rollout and halted new signups amid a wave of accounts impersonating brands, celebrities, and other high-employee file accounts. >>> and ticket master feeling the wrath of swifties everywhere the rush by fans to buy tickets for taylor swift's first tour in five years overwhelming ticketmaster's website, some users reporting apparent crashes or other issues with the site. the company owned by livenation will be modifying fut