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tv   Worldwide Exchange  CNBC  April 10, 2017 5:00am-6:01am EDT

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good morning, markets now, the polls look to battle back as markets come off the second negative week. and three u.s. trucking companies reportedly ready to merge. details coming up. and plus, a thrilling finish, sergio garcia wins his second title. "worldwide exchange" begins right now. it is monday april 10th. ♪ good morning, and welcome to "worldwide exchange." on c nbc, i'm sara eisen. >> and i'm wilfred frost.
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a very good morning from me, today. you're too tall today. you're taller than me. go down. i have to put mine up. >> let's take a look at global markets. >> i don't like this at all. >> so he can get over his complex. u.s. equity futures starting off the week here. let's just show you, a shortened holiday trading week, four days ahead of good friday. here we are starting on a higher note. dow futures up 17 points, s&p up almost 3 and nasdaq futures up about 6 points as for the treasury note, yeah, i story of lower yield. buying of treasuries, we'll have more on that story this morning. but they're taking the opposite way, potentially risk is back on. >> but the ten-year on friday did hit a low, 1.26 it dipped below 1.23. that was more for geopolitical concerns buying of sa safe have
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than reaction to syria. >> also that reaction to the jobs report and that was a big headline miss in terms of payrolls even though the unemployment rate of 4.5% is the lowest since 2007. and to the note on that topic, saying that the employment growth on a annual percentage is 1.5%. 1.5 is the growth in unemployment which leads a lot of productivity in growth in other areas that need to be delivered to hit the 3% target that people are talking about. >> in terms of growth. >> in terms of growth when you bring it either way. the jobs report was a disappointment. and yet markets were flat. asian equities, let's have a look at that this morning. gains for the likes of japan and similar gains for the likes of australia. but declines as you can see forced shanghai about 0.5%. and shanghai flat as well.
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european trade as well. germany, was the big lagoff. european trade, with uk and france essentially just positive for the week. france now negative this morning. we've got latest polls coming out. and the story in the last week for the polls for the french election has been gains for the far left candidate of mr. melenchon, raising the possibility we could have four candidates, melenchon, marine le pen and harmon, highlighting different ways the second round could go, depending on who has a final boost. >> first round of voting there. the 23rd. >> sunday, the 23rd. just over a week or two weeks away. >> broader markets had a strong week last week, gaining 0.75%.
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brent also inches higher just below $56 a barrel. up 0.8%. as for the u.s. dollar, the reaction there it's been a calm week for the u.s. dollar. the dollar is strong against the yen, that certainly helped the yen, as wilfred mentioned overnight. you can see the damage that has been done over the past few weeks. and the pound sits below 1.24 this morning. it is firmer by 0.2%. >> on friday, a surprise given that soft jobs number in regard to the fact that the yields failed. >> i think by the end of the day, all economic analysis pointed to the fact that a lot of the jobs, the disappointment in the jobs report had to deal
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with construction. february was balmy, so we got a big jump in construction numbers then. march was more stormy so that dropped off. and retail, worst two-month strategy for retail jobs since the financial crisis. so, if you add it all up does that change the outlook or see a bump in the u.s. economy? most of research says no. most of the research said the fed is still on track to hike it. >> you set the tone with that balmy. it was used all through the day. >> balmy, just a warm february. >> i like it. >> and then go for it -- >> we have to readjust it. gold prices just to ramp things up for you gained slightly last week. off a bit today, 1255. jim bullard said the central bank could begin winding down the bank this year. saying it should make it less
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necessary to raise the funds rates. but opinions differ on the fed on the topic which is something we've discussed before. now, it seems to be consensus in terms of interest rate reduction. the balance sheet is something is that favarious fed members nd to get on track. fed chair janet yellen speaks this afternoon at the university of michigan in ann arbor. wednesday, look for import prices, jobless challenges. even though markets are closed on friday there is still some economic data to watch, including march retail sales, cpi, big inflation number. earning season also gets under way on thursday. this is the big story of the week. the revolts from jpmorgan chase group. how are you going to balance three earnings reports on one day? >> i can't wait. it's exciting. two of them are exactly the same time which does make it a little
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tricky. but it's exciting to get your head around those numbers. i think the story is expectations are a lot higher than they were this time last year. at the end of the q1, we had a big fall in earning on a core basis last year. the question is can they meet those elevated expectations with where stock prices are with basis? i think commentary hasn't been that encouraging. loan growth within last couple of months and investment banking over the last couple months has been a little soft. >> there's more debate on the banks than there was after the election. i think it has to do with the fact that yields have softened so much and gone south. >> valuations have picked up, we were below the value. about 1.3 times the average at the moment. clearly, things have picked up. we're going to continue that
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debate with steven shoebalk. new data showing investors are buying record volumes of new bond. data reported highly rated u.s. companies issued $414 billion in debt. money time companies in emerging markets sold 1235$178.5 billion. a cover story in "the wall street journal" shows how investors are still excepskeptin economic growth. that yield and bond. something we saw in the fund flows data, money out of equity funds. >> in corporate news, ugg regulators, investigating barclays jes staley. this comes after staley tried to identify the source of an anonymous letter that criticized
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one of his hires. barclays said it's reprimanded ceo staley and its conducting its own reviews in the controls. barclays is up 0. 3%. swift is combining in two of the world's largest trucking company, swift had own 54% of company at $20 a share. and it will be the largest deal in the trucking bins since xpo bought conway. and the trucking company went public last week. and jack dorsey continued to forego direct conversation last year. the 2016 compensation which excluded salary, bonus and stock
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option awards was about $50,000. cfo and coo anthony noto was $24 billion. for the company shareholder meeting sounds far-fetched. it's a proposal to explore the idea of the company selling itself to its own users. if the proposal passes, twitter would have to be prepared to prepare a report on this idea. twitter's board is openly opposed to the proposal. not surprisingly -- i'm unclear what this means. it still will be a multibillion dollar proposition to buy out twitter. but i think it speaks to the fact that it has a passionate and devoted user base who have ideas about how to fix it and change it, and yet, management can't figure it out. >> and a more acceptable response a subscription price for twitter because its users are so passionate.
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we've mentioned that once. there you go. hedge fund manager elliott advisers want bhp billion to unify. the trade is a little bit of a discount in the london trade versus the australian trade which has always been a gripe for the australian company. health care company fres sentence use is in talks to about kier akorn. google offering to invest $18 million for the alphabet screens and the flexible screens for its next pixel smartphones.
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not too much move in share price of google today. the other stocks to watch, ma mondelez is reportedly looking for a successor to its ceo. the board has discussed the replacement candidate. this comes as mondelez faces a successor. baron's gold could rise 30%. and bearic gold. increasing production. boeing and lockheed martin are reportedly considering slashing 50% off the price of orion space capsule and heavy-lift rocket even before it's had its first full test site. "the wall street journal" said the process reflects new financial and policy challenges for nasa and both companies. kistill to come on "worldwi
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exchange," secretary of state rex tillerson -- >> that's your pronunciation of it -- >> no, i'm not dutch. if i were, it would be that secretary of state -- anyway, investors should pay attention to it. we will get an italian accent from our reporter there, we'll see. he's joining us after the break. now on the next page you'll see a breakdown of costs. what? i's just... we were going to ask about it but we weren't surehen. so thanks. ye, that's great. beininclear and upfront. multiplied by 14,000 finanal advisors, it's a big de. and it's how edward jones makes sensof investing.
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exchange." good morning to you. let's get you up to speed on the
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market action. essentially, it was a story of resilience once again for uk equity futures last week, particularly on friday after that jobs number disappointed. the headline print significantly where people expected. and down in regions as well for the prior capital months for the week as a whole, even the nasdaq was down about 0.5%. the s&p down 0.3. the dow was essentially flat. by the time we got to friday it looked like energy would be the best performer, it ended up the second best performer. the worst was telecons. if you look at oil prices, we'll have an indication why oil prices rose. and up again, 0.5%. they do get a bit of a bump on friday due to the military actions taken in syria, whether that will affect the supply in the middle east. but the gains certainly paired by the end of the session.
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oil prices 52.6 this morning. meantime, foreign ministers are meeting in luka, italy today, luka marks joins us there. that's where military leaders are. >> that's right, welcome. you mentioned -- gratz. we're going to have foreign ministers meeting here today. we've seen the global reaction with the turks saying they prefer the cosmetic intervention. we have the saudis saying they clearly support the strikes. clearly from russia saying the aggression affected law. and italians and the italian foreign minister who is hosting these meetings had an interesting thing to say talking to "the financial times" saying
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this offered a window of opportunity for peace solution. one of it is really clarifying what they think about syria. we've had mixed messages from the white house. they're hoping the foreign minister, rex tillerson when he travels tomorrow will take a unified and current message. >> and willem, in terms of messages from the weekend, very strong rhetoric from the british defense minister in terms of the level of the russians' supposed involvement in this? >> yes, that's absolutely right, we also heard from the national security adviser general mcmaster speaking sunday that he was concerned that the russians are involved in these attacks because they have advisers at these syrian airfields. that's a point that needs to be stressed. if they're going to have the
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airfields attacked, they need to know if there are russians involved. but, yes, it's really the brit, the french, the germans, the canadians and the italians pushing the u.s. to clarify the message and take an implicit threat to moscow later this week. >> willem, forgot to mention the most important between u.s. and italian relations were ivanka trump's dolce and gabbana blazer of $3,000. >> willem, thank you. >> good british suit by the looks of things, willem, gratz. when we come back, the top stories out of washington, including neil gorsuch being sworn in as supreme court justice. plus, thrilling finish to the marries with sergio's green jacket win. but first nbc's bonnie
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snyder. good morning, sara and wilfred, we're looking at a pretty nice day across the country. some exceptions if you're flying to chicago or dallas, you may face airport delays because we're expecting strong storms in both cities that could include gusty winds and even lightning. as we look to the south and much of texas we could see strong storms develop over much of the evening. temperatures look very, very warm. we're warming up to highs in the 70s. even 80s by tuesday. so mild in washington, d.c. these temperatures for the first part of the week are 20 to 25 degrees above normal. very warm in the east. a little cooler to the west. but most the country enjoying a really nice april. that's a look at your business travelers forecast. more "worldwide exchange," when we come back.
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i like russo. his on/off splits are the best here. yeah, but his offensive win shares didn't even break 4. come on, check out that stop-and-pop! what do you think? my trade-off analytics indicate no one creates more space on offense. this allows him to nail a jumper from a densely populated urban area. what you're trying to say is from way downtown? i am still learning. i can see that.
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welcome back to "worldwide exchange." in washington news today, judge neil gorsuch will be sworn in as the supreme court justice filling the ninth seat that has been vacant. good morning, edward. >> good morning, antonin scalia passed away may 13th. >> reporter: neil gorsuch will be sworn in by chief justice john roberts this morning during a private ceremony at the supreme court, followed by a
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public appearance at the white house in the rose garden. democrats still upset at changing the rules to confirm gorsuch. >> judge gorsuch bought by partisan support 54 votes in the senate for his confirmation and he deserved it. >> we see more filibuster of judicial nominees by republicans under president obama than we saw in the whole history of the united states. both sides have blame here. >> reporter: this agency the president has ordered a navy strike group to the waters off the korean peninsula. some democrats say it's time for president donald trump to have direct talks with the north korean s. >> we're going to see ballistic missilest tests. >> reporter: it will be high on the agenda for a g7 summit attended by rex tillerson this week. >> once the isis threat has been reduced or eliminated, i think we can turn our attention direct to stabilizing the situation in
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syria. >> reporter: the syrian president seemed to thumb his nose, launching from the same air base, targeting u.s. tomahawk missiles. >> here's what assad is saying from the base, f -- and i think he's making a serious mistake. >> saying that bashar al assad used the chemical weapons. sara, wilfred. >> thank you, edward lawrence. to sports, a thrilling performance at the masters. 18 holes wasn't enough to decide things between sergio garcia and justin rose. so they went to say odd death playoff. rose missed his putt for par. that gave garcia two shots to win but he only missed one. the 37-year-old won his first major title in 18 years. danny willett slipped the coveted green jacket over his shoulders. garcia just the third spaniard in history to win at the masters. and the first of since 1994.
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it also happened to be the birthday of one of the previous spanish golfers seve ballesteros. >> and he's been at this since tiger woods has and has never won a major title. >> exactly, exactly. he's come through. as i said, shame about justin rose. to the nba and record-breaking performance by russell westbrook of the oklahoma city thunder. westbrook logging double digits, rebounds and a fifth breaking of the record set by oscar robinson in 1962. the crowd in denver cheered westbrook's feat but he wasn't done, he hit the game-winning shot, a three-pointer from 40 feet. he's having a good season. >> looks like it. >> three triple-doubles -- >> you know your stuff. >> it's the metaphor that parker used when it comes to strategy, i had to google it and figure it
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out. when we come back, this morning's top stories and global action. plus earning action, results of good jpmorgan, citigroup and wells fargo. we'll tell you what you need to know about these reports straight ahead. "worldwide exchange" will be right back. they're experts in things you haven't heard of - researchers of technologies that one day, you will. some call em the best of the best. me call them veterans. we call them our team. thkthis is the new new york. thinagai we are building new airports all across the state. new roads and bridge new mass transit.
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new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today.
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good morning, markets now kicking up the holiday shortened week in the green. we're setting up your trading day ahead. banks on deck, jpmorgan,
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citigroup, wells fargo out with earning this week. and with steph curry is taking serious heat on twitter today. it's monday, april 10th, 2017. you're watching "worldwide exchange" on cnbc. ♪ good morning, welcome back to "worldwide exchange." on cnbc, i'm sara eisen. >> and i'm wilfred frost. a very good morning from me as well. let's get straight to the market. the nasdaq down 0.5%. s&p down.075. and resilient trade for the week and day as well. and we had various geopolitical news, including some air strikes in syria. and of course, that meeting between president xi and president trump. this morning expected to open
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higher, son-in-l eer only sligh. we got weakness in shanghai, down about .5%. slightly positive for the other may markets in france and uk. this morning, a little mixed europe people trade. we've got that coming up. the dax was negative earlier. in fact, all of europe in negative territory as you can see, france down 6%. a strong week last week gaining wti at 52.59. up 0.3%. and brent up higher. and nat gas up. lower yields dominated on friday after a weaker jobs report and geopolitical jitters after syria. yields are a little firmer this morning, 237, after dipping
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below 230 on friday's trade. as for the u.s. dollar, stronger against the japanese yen. that helped the nikkei overnight setting the tone here. 11 111.27. a little firmer against the euro. a fractional gain. the pound at 1.24. gold had a strong day on friday after the geopolitical tensions. 1255 an ounce. it's a little weaker this morning. in corporate news, uk rerggulats are investigating jes staley and the bank over its treatment of whistle-blowers. this comes after an anonymous letter criticized, staley. >> not much movement in the share price on the back of it. the board is still relating he
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keeps his position as ceo in the outcoming in may. certainly not a nice pr story but not too significant. and swift and knight transportation merging in a deal to combine two of the largest trucking company, from "the wall street journal." the deal will be announced today. swift at 20. and the largest deal in the trucking business sense xpo bought conway for $3 billion in 2015. now to wall street's agenda this week it's sort of a light one, but fed chair janet yellen speaks at the university of michigan this afternoon. she's participating in a panel of discussion. of course, investors will be looking for any comments on the disappointing jobs report on friday. wednesday, import prices, thursday, jobless claims and march cpi. even though the markets are closed friday, there's economic data to watch, particularly march retail sales. consumer cpi and consumer
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sentiment. the big focus will be on earning with results from jpmorgan, citigroup and wells fargo. >> let's talk more about the banks. steven, good morning to you. >> good morning. >> thanks for joining us. i suppose as we look at earning as we said kick off on thursday, going to be much easier to beat what we got this quarter last year where the environment was much tougher. but, granted the way share prices have run off, there's room for disappointment? >> yeah, i think in terms of setup, it's going to be an interesting earnings season. since the election stocks are up more than 20% but you start to see some signs of the merge. bank indices are down 2%. you're right, we do have easier year to comp, that's certainly going to help. trends are fairly mixed. you see chair performance. slow in one growth.
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some finding of the yield curve. the capital markets trend while certainly better than a year ago are still relatively mixed. you had fixed income trading better. emanating equities worse. and last but not least the gdp policy. that's a big concern. tax and deregulation, whether they can deliver meaningful progress there. >> let's look at more details in terms of slipping policy. which is more important for the banks to come through, deregulation or tax changes? >> in my mind, it's tax changes. there are firms like citi group that are viewed as capital stores. regulatory relief are important for sit idiosyncratic firms lik that. >> you mentioned a big runoff since the election. which stocks relative to each
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other still look like opportunity in the share price? >> i think boa has been the strongest. not only good quarterly results but positive visions. boa, and we do expect that is going to move higher. and the same holds true for morgan stanley. those are two names that we think will continue to work there. >> coming back to the regulation environment, "a," are not not seeing deregulation rise, but last week you could say a story of potential reregulation. what's your view on them and what it be a super negative thing for bank share prices if it came? >> if they come it would be negative. it's going to be too challenging at the moment. i still think with the expectation of trump's agenda
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and what his focus has been is what's going to help stimulate the economy, grow lending and that's going to be capital relief. and maybe providing some relief. glass geegle, it would be a negative, but that's not expected. >> you've been out seeing clients in the last week or two. clearly, march a pullback in prices. what's your take on why people have taken money off the table? or do you get the reaction that they're ready to redeploy that money? >> i think investors are already committed to financials. i still think there's some willingness to believe in what we call the blue sky scenario. expectations for tax reform, deregulation which is not fully baked into the share prices today. but we need something tangible on the policy side in order to drive further interest in the big banks. >> we we need to see a steeper
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yield curve. it's like that trade dictates everything. >> it feels that way, especially for the regional banks. it's worth noting that stocks like goldman sachs, the capital drop has been weaker. and yet, it's really been a confluence of factors that have impacted this group. we really need to see better capital markets backdrop, as well as help on the rate side. >> steven, great stuff thanks for joining us. time for top trending stories on this monday. steph curry just can't seem to catch a break. the nba player drawing criticism on twitter following the debut of this curry 3 ox blood, this is a special one. >> i understand the criticism. they're hideous. >> users are calling it a pt cruiser for your feet and outdoor bowling shoes. this came after the launch of curry low shoes which i
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interviewed him last year, he didn't mind it because they're selling despite all the criticism. i don't know if you can have two faux pas like this. >> i actually likes the pt cruiser but i don't like the shoe. does it hurt you personally when you see people attack stuff on to witter? >> not exactly. it's an issue for under armour because he is their global star. he is a nike competitor. but the big fear at under armour, they just don't have the chops that nike has when it comes to design, putting out sneakers. they're not in the collector stores, they're not reselling for higher prices and getting lines out the door. also curry went after them when kevin plank made those comments about president trump being pro-growth and good for the country. curry didn't agree with those. >> down nearly 60% in the last
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year. the next story, harry potter smashing records at last night's olivier awards, the show's equivalent of the tony's. harry potter and the cursed child won seven. >> you have seen it? >> i haven't. i definitely want to. well, i kind of do and i don't. it goes to my debate about the pure play harry potter. it's definitely getting lots of great reviews. and i didn't -- although initially, i didn't want to see the latest one -- which i don't remember the name now, anyway, i've seen it and it was excellent. jay z pulling the bulk of his music catalog from spotify. leaving only two collaboration albums with r. kelly and a
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collaboration of signals. jay z of course is the owner of sony service title, who is yet to be on the move clearly this is a expecompetitive move to ge people to switch to title from spotify. way more people on spotify. >> with the red across the screen. now, almost -- two decimal places it is. anyway good to see britain holding up although justin rose's disappointment last night. we're back in a couple minutes. .
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welcome back to "worldwide exchange." let's get you up to speed on the u.s. market action. looks like we have a mini game here in u.s. equity futures even though europe is mostly in the red right now, stock futures are up seven points, actually cut their gains in half over the laugh what half hour. s&p up one, nasdaq up 1.5. we searched for direction early. the dollar is a bit stronger versus the yen which is generally good for stocks. the pound is firmer, though, against the dollar. and the dollar sort of flattish against the euro sitting just below 106. oil prices are higher this morning. wti at 52.63 up .30%.
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and a gain of almost a full percent. u.s. airlines getting better at being on time and not losing your bags. those are the findings of a study on airline quality out today. it's considered an industry benchmark because it uses government date to rate rate airlines on baggage handling, bumping passengers and complaints. the report says u.s. airlines posted the best reports ever last year in those critical areas. in media and entertainment news, there was no change in the box office as a pair of holdovers outshone the competition "boss baby" bringing in $63.3 million. in two weeks. and "beauty and the beast" has brought in $1 billion worldwide. i happen to be in the movie theaters just for popcorn, i
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don't go to see the movies. there were so many children. >> you went cupcake shopping and popcorn shopping and yet you couldn't lower your chair. that doesn't make sense. >> what does that have to do with it? >> heightwise. have you seen the movie? >> no, i'm dieing to. moving on, financial times penned by lary sommers titled "the u.s. must work on its economic relationship with china" coming off that historic meeting with president trump and president xi last week. he wrotes if the u.s. succeeds in stopping the subsidies or blocking the subsidized products, the results will be shift production in vietnam and other low-wage countries. he's commending the approach to have a long-term strategic economic partnership, but saying the focus absolutely needs to be
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on the long term. and it would be a real mistake to try and make short-term gains because it will hurt the u.s. in the long run. >> right, like trying to close the trade deficit. what i learned from that piece this morning, how much china is doing around the world already on its own. going through the investment bank, a world bank alternative, pouring money into latin america and africa, and those are long-term moves. exactly. we're approaching the top of the hour, that means the team is getting ready for "squawk box." melissa lee joins us. >> secretary of state rex tillerson trip to russia and of course the g7 today. we've got a hosts of guests to help us decipher what this emerging trump doctrine could be. bill daley, the white house chief of staff, along with john noonan, the former chief of
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staff of bush 41. as you guys know it's a big week for earning. we've got marty mosby and mohammed el erian. one of the hottest new startups which aims to change the way millennials consume the media. got us a new round of funding last week. we'll talk to the ceo on what he hopes to do. >> melissa, we look to 12 minutes some "squawk box." still to come, ed keon is in the house, managing director at qma is joining us. first before the break, take a look at where asian equities closed. green in japan, up 70.7%.
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welcome back to "worldwide exchange." let's get you up to speed on the market action. we'll look at the bond curve here as you can see, yields around 2.37 on the ten-year note. that came off we did dip below 2.3% on friday. despite that dip in markets ending the day flat. quite resilient in the face of that. oil prices have supported the markets in production. gained about 3% adding another 8%, energy the best-performing sector last week. 52.6. just a look at the futures to show you where it's shaping up in light of all of this. the dow on flat -- well, now about 8 points of implied gains. especially slight positivity.
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the nasdaq down 0.5%. joining us in ed keon, managing director of qma, is it earning to set the tone for the week? >> yes, earnings are going to be good this quarter. we're thinking double-digit growth. >> you're talking about earnings overall? >> yes, s&p, maybe as much as 12% or 13%. but that's against the backdrop where most of hard economic data has been weak. it's kind of mixed signals. >> it good enough to keep this trading above historic recommendation and your horde ryes going up? >> i think we will be higher at the end of the year and now. but i think it may be rocky between now and then. >> what causes that, was it because of a burst of geopolitical tensions? we've had negative after negative, including house speaker paul ryan saying don't
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expect tax reform anytime soon. and yet the market as pulled up? >> it is, the market has remarkably resilresilient. it's not priced for bad news. it's priced for pretty good news. so, i think the issue over the next couple months is what sort of pro-growth policies do we get. i think at least part of that reality we've had, partly driven by the good earnings of the fundamentals is based on expectations and more aggressive policies which we get some policies that end up being kind of a nothing burger, where you get maybe a neutral tax cut. or you get other things which are not really major fiscal policy stimulus, then you may end up with some disappointment out of the market. again, they're not bearish, i think we will run higher. but i think after a pretty straight runup in a flat period, we may be in for a bit of volatility ahead. >> what's the take from the
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market that we learned from the fed that they may now start using shrinking of the balance sheet as opposed to interest rates as a means to tighten? >> i think we knew they were going to normalize policy. and shrinking it down at some point would be part of that policy. i think it's a little surprising they might be doing it this year because again, the underlying backup doesn't look all that good, gdp at 1%. it seems to be a weak quarter. i think overall, if you look at the survey data, if you ask businesses how they feel, the numbers are very good, but when you look at the actual account things -- >> yeah, we've been all over that story. >> it's not that rate great now. you don't want the fed to tighten too much too soon. and so it's going to be a difficult period to go from extremely aggressive monetary policy to one normal. even finding what normal is in today's world. it's a challenge. >> in terms around the rest of
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the world at the moment, are you optimistic about the picture in europe and asia of where we are, sir? >> we've been rotating a little bit from united states to europe. we're pretty close to benchmark rates. we have a 60/40 portfolio. that's less aggressive than a few months ago. >> within your u.s. portfolio, how much exposure do you have, we've seen groups like real estate, telecoms and staples. >> we've had private real estate attractive because of their cash flow, their yield, but even there, their valuations look kind of high. it's hard to find cheap assets around the world again, we're sticking to benchmarks at this point in time. >> your view on gold at this moment? >> we're not really big
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investors in gold. the best invest i ever made was in gold. that little piece of gold i put on my wife's finger. >> lovely way to start the morning. >> good advice for wilfred in the future. on this day of debate which is drawing a lot of what you think about the economy and how it's going to perform, have you studied in the past soft data surveys and whether they bode well for the economy and for the stock market? >> well, consumer sentiment and stock prices actually tend to be negative, so, you get a big spike in settlement, that isn't necessarily a good thing for stock. all of the good news is embedded in it. we would hope to get hard data, and we really like to get positive policies. some pro-growth policies in order to be more aggressive. >> ed keon of q & a. speaking in ann arbor later,
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janet yellen. and the g7 meeting, of course. that's it, everybody. for "worldwide exchange." "squawk box" coming up next. finding time to get things done isn't easy.
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good morning, it's a holiday-shortened trading week but we'll get the first earnings report for the first quarter. we'll have the rundown straight ahead. and a deal for the trucking company. and what a finish for the masters. sergio garcia wins his first major title in a sudden death play jaw. it's monday, april 10th, 2017. and "squawk box" begins right now. >> announcer: live from new york where business never sleeps, this is "squawk box." ♪
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a very good morning. and you don't know how good a morning it is, welcome to "squawk box" right here on cnbc. we're live at the nasdaq. i'm andrew ross sorkin along with bill kernen and melissa lee. becky off this morning. we'll look at futures, see how they're opening up after a weekend here. dow owned down marginally down about five point its. let's show you what's going on in asia, keying off of that, because not much is happening there. the nikkei up marginally. the hang seng composite down just a bit. european equities we're looking at in a red picture for the most part. but not terrible for the most part. finally, a quick look at wti, crude, you can buy a barrel for $52.56 this morning. here's some big stories we're watching this


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