wilfred? >> some other stocks to watch. mcdonald's is reportedly targeting private equity firms for its planned sale of 2800 restaurants in north asia. "the wall street journal" reporting that ctw investment is pushing for a shake-up at chipotle. the investor group is affiliated with funds that own 55,000 of the chain's shares and says the board lacks diversity. no move really in the share price. verizon is likely the front runner in the upcoming bid for yahoo!'s core business, this according to analysts. this is partly because verizon's efforts with aol, which it acquired last june, have gone well. verizon flat in premarket trade. >>> when we come back, decision 2016. we're less than a week away from the key new york primary. republican political strategist sara fagan is here with a look at the hike stakes, next on "worldwide exchange." every year, the amount of data your enterprise uses goes up. smart devices are up. cloud is up. analytics is up. seems like everything is up except your budget. introducing comcast business

>> good morning to you, wilfred. yes, we saw the negative pressure right out of the debate here in asia at the beginning of the session when news came out of doha there was no deal. so all the major indices ending in negative territory. but it was the nikkei 225 that felt the most heat. not just because of oil but because there was a second earthquake on saturday in a major manufacturing hub in southwestern japan to hit some of the major producers. also we saw investors going to the safehaven of the yen which strengthened the yen. we'll go to the big companies, the big japanese companies that were impacted today. we'll start with sony that closed down 6.8%. they said their image sensor plants in the earthquake region would be idled. also, toyota down 3.8% suspending car production because of supply chain issues. this will affect models such as the prius, the cruiser and the lexus. honda down 2.9%. they said the motorcycle plant in kumamoto will also stop production. the only industry to see gains today was the constr

who knows wilfred. maybe we'll get the iphone wf. >> i like that. i like that a lot. >> wtf. >> can we say that? >> she did. there we go. >> apple is emphasizing and stressing as it wanting to be higher valid as the services company, not just an iphone company but it gets majority of revenues still interefrom the i product. and any hints could be key. >> and something like 11 million subscribers. >> the stock's been flat this year so far. so the question is has it been baked in already. >> indeed and the china commentary always important. >>> other corporate news this morning. alibaba affiliate ant financial services moves one step closer to ipo. valid at close to 60 billion dollars. another success story within alibaba. >>> the container stores. announced cost cuts following a year of heavy investments. the stock responding nicely ahead of the open. and fda panel sayi ining sareptt doing something. >> some more stocks to watches. nabors has suffered as oil producers use fewer rigs. express scripts reporting lower than expected revenues. still hikin

that to me, wilfred, is largely a fed story. and the gains across most major currencies now we're seeing the opposite take place. i'm not sure that the dollar will continue to weaken. as you know, we've got the brexit concerns in june. that's probably the reason the fed stays on hold. and if the global economy looks fragile again. in part because of the u.s., the rate of dollar slowdown will itself slow. and the dollar leveloff may even go up again. i'm not sure exactly what happens in the short term. i don't necessarily think the dollar rally is over. >> joe, thank you for joining us. the pleasure as always. >>> alaska air is reportedly in an agreement to buy virgin america for about $2 billion beating out a bid by jetblue airways. an announcement could come as early as today. share prices reacting as you can see. virgin up 31% this morning. >>> stocks to watch today, blackstone is buying hp enterprises indian consulting firm up to $1.4 billion. this is the second deal for the company in india in the past few months. >>> tesla

i was listening to wilfred's comments on donald trump. it is a little bit -- it's interesting, guys, because his appeal has been his raw sort of break the mold outsider appeal. put that together with a little bit more policy. hired a couple veterans to try and help with that. put that together, and it's a little scary. we'll see whether just the sort of idea or presumption that he doesn't have a chance against hillary clinton. it's a long time until november. you put those two things together, somehow combine the two, and he's been underestimated up to this point. even carl rove's super pac. i don't know if you noticed that. they've been anti-trump, but they've been telling people that he can win in november apparently. that's one of the stories. wilfred, let me digress. when do people in the u.k. -- do you have an april 15th? do you have a day like that celebrated by democrats as really their independence day, or do you have -- what day is it that -- basically your most patriotic day for the left in the u.k. what day is that? >> i don't

i don't know how much you got to see of it wilfred. let me see, we are going to do a business show today. i got a look at what's coming up. i felt so bad. i was hoping -- i would have cried, you know, but i would have never gotten -- jason day, you saw that the very first day, number one golfer in the world shot 31 on the front and 41 or 42 on the back. so, you know, this happens. and it's amazing that he led for seven straight rounds. so, there's a lot, i think, he can work on with that, but that was really, really painful. and you know, the newspapers aren't very nice. they love to build you up and they love to tear you down. then when he comes back, they'll build him up even more. that's the way the world. keep that in mind. >> joe, great stuff. we love the green tie with the masters and "squawk box" coming up in 11 minutes' time. >>> the next guest, the financial markets will likely to be volatile with little upside. alison deans of aa deans advisory is up next. you're watching cnbc, business worldwide. and solar satellites provide

i'm sara eisen. >> and i'm wilfred frost. a very good morning to you from me as well. let's have a look at u.s. equity futures at this hour. decent day yesterday around about 1% in gains for the main markets sparked by big gains for oil prices. we're looking at gains once again today. almost triple digit for the dow. 85 points in the green are u.s. dow futures. the s&p called higher by 11 points. the nasdaq by 32 points. let's have a look at the yield on the ten year. we've come away from that 1.7% level we hit last thursday. we're close to 1.8%. so risk sentiment has just improved over the last week or so. 1.781 on the u.s. ten year this morning. now, bank earnings are likely to set the tone for the trading day. jpmorgan set to post results shortly. the financial giant expected to report earnings of around 1.26 per share on revenue of 23.4 billion. this will be the bank's first year-over-year earnings decline in five quarters. shares of jpmorgan since the start of 2016 up there for you -- now they are down 10%. just over 10%

i'm sara eisen. >> and i'm wilfred frost. let's get right to the markets for you. yesterday we lost steam throughout the day's trade, ending slightly down for some markets. basically flat for the nasdaq. today we're expected to bounce back but only slightly. the dow called higher by 22 points. the s&p by 2.8. the nasdaq by about five points. of course, we have kicked off earnings season. alcoa the first big name to report late yesterday, down 4% in premarket trade. let's have a look at the ten-year note on the u.s. treasury. we're looking at the yield at 1.75%. in general, the story of the last month has been yields coming down. however, we've just come off that very low level of below 1.7% that we hit last thursday. >> ready or not, here comes earnings season. quarterly results likely to set the tone for the markets in the coming weeks. first out of the gate last night, alcoa. earnings beating the street by a nickel but revenues did fall short. results were hurt by low commodities prices like aluminum, the strong dollar, and

wilfred frost has the details. >> facebook expected to post earnings of 62 cents a share on revenue. the stock is up about 30% over the past 12 months. among other things to watch in today's report, mobile advertising. and how about the news feed reporters say that even within nearly a billion active users on average, users are tiring of posting personal updates of their own lives. and looking for more insight in boosting future revenue and the big question is can facebook surprise and beat earnings estimates where twitter, microsoft, apple and others have failed and all moved to major

>> very interesting, wilfred. strong words there from jamie dimon. interesting to note, he's also commenting on the political situation here in the u.k. and had words on brexit. >> he absolutely did. i'm particularly interested in this because so far many banking ceos, despite having a clear stake in this debate with huge numbers of head counts, they've been reticent to make clear comments, partly because they fear if they come out on either side, there might be a backlash among voters. in the same way that someone like hillary clinton wouldn't seek the endorsement of the one of the banking ceos because it might hurt their campaign. i think the banking ceos have been careful not to be too political. this is a pretty clear political comment. he says that the best case would be uncertainty if britain voted to leave. he said the worst case, or the bad scenario, would include trade retaliation against the u.k. by various eu states. he did describe the european union has sometimes dysfunctional but said -- and i understood why some people would argue that

wilfred mentioned oil. it's gaining. 40.26. you might have thought after no deal in doha crude would be under heavy selling pressure but that came bouncing from the concerns. --. gnat gas also remains highenat . . [ sl >> the euro has charged ahead. and is heading towards 114. not quite there yet. but is a story of a stronger euro, a weaker u.s. dollar. stronger dollar against the japanese yen something to watch there. japan doesn't want that and it's been one of those global pressure points but that weaker dollars starting to factor into earnings forecast and expectations of earnings later in the year helping u.s. corporate america. the move we're looking at just for example dollar yen today is 0 0.5%. >> very good. welcome to america. gold prices we're seeing some strength. across the board. silver at a ten month high and that's been helping some of the companies. >> 0.7% move up in --. corporate stories. ibm beat expectations. older businesses are shrinking faster than its new businesses are growing. shares as you can see su

i'm sara eisen. >> and i'm wilfred frost. a very good morning to you. let's have a look at u.s. equity futures. a disappointing day for markets yesterday. second negative session in a row, the dow having its first triple-digit loss since the 8th of march. we're looking at bouncing back, up 72 points today. the s&p up by nine. the nasdaq by 22 points. one of the reasons for this switch, this positivity today, as compared to yesterday, is oil prices. they're up significantly this morning, 3% for wti. just above 37 today. this comes on news that we have heard some comments most recently from kuwait's opec governor that there could be positive indications from any upcoming meetings in terms of controlling supply. >> in overseas trading, economic data overnight showed china's services sector strengthened overnight. that could be fuelling it the gains in commodities as well. the shanghai comp closed flat to down. shenzhen, 0.5% gain. the japanese yen a real focal point overnight after going below 110. that's a stronger yen, weaker

wilfred joins us from cnbc headquarters state side. alcoa once again on us, wilfred? >> that's right, we're back in the thick of it, kicking off with alcoa. late of focus as the banks join the earnings party. they've seen their earnings forecast downgraded almost unanimously during the first quarter which has led to the banks being the worst performing s&p 500 sector to date. down 7.6% compared to the broader market return of just positive 0.2%. there are two main areas of concerns, energy, capital markets and interest rates. the first is energy and what it does to credit writedowns, give the start of the year that the energy sector has had, investors are much more focused on nonperforming loans than the final crisis. citi surprised negatively in november. and an expert said that wells fargo may be more exposed to this than you might expect for the more retail banking exposed name. the second area is capital markets and it's the biggest reason for downgrades this quarter. the absolute numbers will be pulled banks will be guide as much. with up to 20% declines already

i'm sara eisen. >> and i'm wilfred frost. we're ready to bring you up to speed on apple, the broader markets and more. first, if you went to bed early, donald trump declared himself the presumptive gop nominee after winning you have a five of yesterday's primaries by huge margins. on the democratic side hillary clinton beating bernie sanders in pennsylvania, maryland, delaware and connecticut. clinton has a virtual lock on the nomination but sanders is showing no signs of dropping out just yet. >>> apple shares are getting crushed right now. down 7%. the tech giant posting it's first year of year quarterly sales drop in 13 years. iphone sales declining for the first time ever in but in an interview with cnbc, apple ceo tim cook told josh lipton the company is in the early innings of the iphone and suggests there is great reason for optimism. china was also a rough spot in this report. sales in that key market dropping by more than a quarter. but cook says he feels good about that country too. the company did announce a 10% di

i'm wilfred frost. thanks for joining us. let's have a look at stocks right now. they are selling off hard. asia closing in the red, which has seen europe follow suit and down in early trade as well. >> let's show you the morning action, as we speak. first up, u.s. futures. first day of the trading day for the second quarter. starting off in the red. we're not looking at sharp declines compared to some of the action we're seei ining oversea. dow futures down 19. s&p futures down four. nasdaq futures down 11. overnight in asia, selling in china even with some positive manufacturing data in china. though, the shanghai comp managed to close flat. also reaction to standard & poor's cutting the credit rating one notch. japan's nikkei closing down 3.5%. the survey measure there disappointing. in china, that better read on manufacturing. couldn't manage to lift shares more than 0.17%. the hang seng in hong kong down 1.3%. >> i think asian markets generally responding more to that downgrade in china than the fundamental data that we saw. the pmi slightly better in china.

. >> and i'm wilfred frost. >> first, if you went to sleep early last night. here are the results of yesterday's new york primaries. the front runners hillary clinton and donald trump both came out on top. clinton, the projected victor on the democrat side with 58% of the vote and adding 177 more delegates. >> today you proved once again there is no place like home. you know, in this campaign, we've won in every region of the country. from the north to the south, to the east, to the west. but this one is personal. >>> donald trump also winning his home state by a landslide. john kasich with 25% of the vote. and ted cruz in third. >> we don't have much of a race anymore based on what i'm seeing on television. senator cruz is just about mathematically eliminated. and we've won another state. as you know we have won millions of more votes than senator cruz. millions and millions of more votes than governor kasich. >> is there you go. the front runner solidifying their leads in new york. but new york won't be enough on either side to prevent a high level of turbul

wilfred frost is here at hq with more on the busy week ahead. good morning. >>> indeed, a very good morning to you both. packed earnings and economic agendas. today we get new home sales out at 10:00 a.m. eastern. on the corporate front before the bell, we'll get results from haliburton and xerox to name a few. >>> and the fed's two-day meeting begins tomorrow with the post-announcement at 2:00 p.m. eastern time. a lot of other data to look out for like gdp on thursday and personal income and spending on friday. and apple is the big one, the tech giant reports after the bell. also worth watching, dupont, proctor & gamble, at&t and chipotle. on wednesday, facebook and thursday is the busiest day of the earning season, tons of firms including ford and amazon will release their results. finally, friday, we see chevron and exxon, particularly two to watch in the number space. i would say well worth watching the earnings season. two weeks ago banks were the main focus. they surprised and drove on the upside. last week looked to tech names disappointi

. >> and i'm wilfred frost. it's throwback thursday. this week we're highlighting the newest members of the rock and roll hall of fame with the induction ceremony and concert coming up tomorrow night. >> yeah, that was the steve miller band with "rocking me." we'll hear from chicago, cheap trick, deep purple. it's going to be a good one. >> let's get to the market. a positive day yesterday. pretty positive for the s&p. still positive to the tune of about 6% for the dow. we're expecting a slight correction this morning. the dow called lower by about 38 points. the nasdaq by 12. the s&p by five. we got some impetus yesterday after the fed minutes, which were seen as nicely dovish. let's have a look at the yield on the u.s. ten-year treasury note. we've continued to see pretty low yields the last couple days. no big movement today. 1.734%. >> the show stopper in the last 48 hours, the dollar against the japanese yen, hitting a 17-month low. that is a significantly stronger yen and a weaker u.s. dollar. below 109. this after minutes from la

wilfred, what can we anticipate from facebook? >> well, exactly. facebook had its annual developers conference. lots of things coming out of that. a new research report, in fact, getting pickup overnight. it suggests facebook's first quarter ad growth was worse than expected based on incomplete data. the comments from the analyst causing a dip in facebook shares yesterday, though it did bounce back. facebook shares up about 6% so far this year. in other news on the tech giant today, facebook has hired regina dougan away from google to focus on large, breakthrough technology. on the u.s. trading day ahead, we have a number of banks following jpmorgan yesterday beating expectations. bank of america and wells fargo on the agenda. also, black rock and delta airlines. louisa? >> wilfred, good to see you. have a good show coming up in ten minutes. be sure to tune in for "worldwide exchange." >>> moving on, the defending nba champion golden state warriors defeated the memphis grizzlies 125-104, recording the best ever regular season record with 73 wins an

back to you, wilfred, sara. >> i have a question, edward. as the candidates are in wisconsin ahead of today, they're also sharing time with new york, which is the next big primary. how much is at stake here, and what do the polls look like early into new york? >> reporter: exactly. in fact, some of the candidates are actually not in wisconsin. hillary clinton and john kasich have chosen to go spend the weekend actually in new york. so the other candidates are in wisconsin going around. wisconsin is very close. donald trump is about five points behind senator ted cruz. he has 35%. senator ted cruz has 40%. on the democratic side, bernie sanders is up eight points over hillary clinton. that's a big margin. that's actually been growing in wisconsin. now, one of the reasons hillary clinton went on to new york is because her lead is shrinking. just about ten points or so in new york. but that has been shrinking over the course of the last month. so she is there to try and make sure this momentum that bernie sanders is getting doesn't keep going.

i'm sara eisen. >> i'm wilfr

i'm sara eisen. >> and i'm wilfred frost. we're throwing back with pop from the 2000s. is this pink? right. look at me. on trend with the early 2000s apparently. the markets this morning. slightly higher to the tune of 40 for the dow, the s&p 4.3 points and the nasdaq up 4.7. yesterday the vix at lowest point of the year. also bond markets show a little risk on sentiment. the yield which has been lower ticking up 1.86% and oil was a big factor yesterday as well. >> rallying new highs for the s&p. the dow and the nasdaq. joining us is tobias. how many have been caught off guard by this 15% rally since the mid february lows? >> most people to put it simply. >> a lot of gloom and doom out there. >> most fund managers got -- well they stepped up at the end of december and saying thank god 2015 is over and let's get ready for the rally and that didn't work out for the first weeks of the year and turned defensive and they got caught with this ram. part is the fears going around in the industrial recession argument. there was no recession coming down the pike. it was inventory

wilfred joins us state side with those details. >> morning, nancy. morning, lou. bill ackman says the company won't butt bausch & lomb on the block. they're only considering selling noncore assets. pershing square lost about $1 billion on the drug company since taking a stake in march 2015. on an investor call yesterday, ackman said he expects to make back his losses. of course, significantly under pressure. thus far we don't have any clear indication if it's meaning investors heading for the exits. as we look at things right now, futures pointing to an almost triple digit open. called higher by about 94 points, following the gains you're seeing over there in europe. >> yeah, wilfred. certainly good news for investors. great to see you. have a nice weekend over there. >>> meanwhile, we want to bring you a view of copper prices. despite a bit of an uptick this morning, now we're back into negative territory. off about 2.8%. it's been a rough week for copper prices. this comes as we saw supply data rising to its strongest level in five months. still some concerns th

. >> and i'm wilfred frost. great to be with you this morning. let's get right to the market action. we're looking at gains for u.s. equity futures following the lead we've seen in markets elsewhere around the world today. almost triple dimgits on this friday for the dow. the s&p up 12 points. the nasdaq up 31. this follows a day where markets traded in the red for most of the session yesterday. the dow seeing its worst daily performance since the 23rd of february. it was a disappointing day for markets yesterday. we are bouncing back, however, today. let's look at the yield on the u.s. ten year. amazingly enough, it fell below 1.7% briefly yesterday. we're back above that but only fractionally. for whatever you see of gains in equity markets today and in general over the last month, there's no doubt that is a relatively bearish signal, what we're seeing in that yield compression. >> but the story of the week, of the morning, of the last 4 hours is the japanese yen. breaking overnight, japan's finance minister talking down the rapid rise in the c

wilfred has been looking closer at the financials. a whole bunch of them reporting this week, wilfred. >> that's absolutely right, louisa. it's driven share price performance, as you've just said. the three main takeaways from the banks we've heard from so far. first up, the u.s. economy is actually doing okay. loan growth has been decent. wells fargo, for example, saw growth in all segments in terms of loan growth. despite the market volatility in q-1 and the hike we saw in december, there is good demand for loans across the board. second takeaway, energy provisions have been high, but only as high as was expected. however, guidance for the rest of the year differs between the main players. jpmorgan seemed confident that the worst is behind them, whereas wells fargo sounded less confident in that area. capital markets, they've been weak as forecast. m&a more so than sales and trading. but march did see an improvement. given the challenging top line environment here, investors have focused also on expense control, applauding bank of a

. >> elsewhere, wilfred frost, we're going to throw it to him. >> we have wilfred standing by. i don't know if he's got the news right now. i think what we should do, if you'd indulge me, is have a conversation about fintech and lending while we try to assess what's going on here with the jpmorgan numbers. >> i think that's -- >> think that's a good move? >> the best idea you've had, yes. >> okay. let's do that. the lend it conference is under way in san francisco. we'll get back to the jpmorgan numbers as soon as they cross. in the meantime, where are are the biggest names in online lending? they're meeting to discuss the latest trends in the rapidly growing business of fintech. joining is us is the founder of bizfi, who is speaking at the lending conference. his company provided over $1.6 billion in financing to more than 29,000 small businesses. good morning to you. >> good morning. >> so, you know, it's funny. you come to us literally as jpmorgan's earnings, the old traditional stand by, those earnings coming out. you guys dtrying to disrupt tha business. the question i put

. >> and i'm wilfred frost. right to u.s. market action, the u.s. futures have taken a turn for the worse over the last hour as we are down .50%. the s&p is down by 8.5 points. the nasdaq down by 22 points. the nasdaq was down last week, tech earnings disappointed and the other two indices flat not eking out any significant gains. we'll have a look at the ten-year, this is the focus with the two-day fed meeting kicking off tomorrow. we have seen those yields climb a little bit over the last ten days or so. we are at 1.87 closing in on 1.9% having hit lows of 1.7% a few weeks ago. >> some of the weakness could be coming in from overseas. we just got word of the efo survey dropping in confidence in april taking a toll on the german dax underperforming down 1.3%. but losses pretty much across the board right now with weakness in commodities playing into it. also what happened in asia overnight. stronger japanese yen defined the session. that hurt the nikkei down three quarters of a ent. we'll get a bank of japan meeting on thursday. expectations for mo

wilfred frost is back at hq with all of the details. hello, again, wilfred? >> hello, sara. coming in at $1.10 versus $1.03. the all important energy provision was $455 million. this was in line with forecasts. on the call we got the clear ens guidance of any of the banks on future writedown this year. if oil prices are close to $30, then we can expect another $1 billion of charge this year, whereas, 'above $40, the picture is a lot better. the cfo saying he's not confident yet this was the worst quarter for energy provisions. on the capital market size, they painted another picture. banking down 27% whereas equities and fixed interest were only down 13%. the call suggested that the m & a pipeline had an opportunity to bounce back on their own calls. some weakness in their consumer business in asia, but in the u.s., john says they definitely saw growth for the first time since 2008. as you know, also touching on the living women issue, they passed their living will earlier this week and the cfo said there's certainly recognition. we've put in a lot of hard work and that is s

wilfred frost back at hq with more on those names. hey, wilfred. >> hey, carl, thanks very much. as you say, both beat. i would say the boa eps was really in line, although the conference call has helped investor confidence and moved that share price up. wells was just ahead, as you said. both of them really, though, only ahead relative to forecasts at the start of the week. they probably underwelcomed a little bit relative to jpmorgan yesterday. a key takeaway for both is the economy seems okay, despite the volatility throughout the quarter and the interest rate hike in december. loan growth was strong, both saying that the consumer is looking fine. wells even saw loan growth in every single segment, deposit growth for both also solid. on the bank of america side, as i said, we're in line on the eps line than a beat. on the plus side, though, expense control was good, always a key factor for bank of america. but investment banking was weak across the board, and the ficc performance, fixed interest, commodities and currencies in sales and trading was a particular disappointment.

. >> earnings season rolling on, wilfred frost joins us for the latest rap from the u.s. >> first nancy i just want to say i never knew you were a tottenham fan. it upsets me deeply deeply but i like that you are wearing red today the colors of arsenal. >> i know how to pick them. >> exactly. great to see sol campbell on earli earlier. yesterday, american express beat the street on top and bottom lines. revenues rising the first time in five quarters. high spending by card members in the united states among the reasons. qualcomm reported third quarter profits below estimates. expecting chip shipments to fall. the stock under pressure to 3 1/4%. shares of yum rising this morning. helped by chinese new year promotions. ma tell is struggling. to name but a few. plus weekly jobless claims come in this morning. at the moment futures pretty flat. fractionally higher. "worldwide exchange" coming up in about 15 minutes. >> all right. we look forward to it. >>> and a volitionist harriet tubman will now become the first african american on a u.s. paper currency. this when she replaces president a

. >> good morning wilfred. >> very good morning to you. as you said, apple expected to report earnings of $2 a share on revenue of $52 billion. among things to watch in release, iphone sales apple is forecast to report 50 million units versus 61 last year. second, watch china. the country has been the bright spot for apple but the market is becoming over saturated. and service, investors will want to see value beyond the hardware. shares of apple roughly flat year to date and down more than 19% over the last 12 months. we're down about .6% yesterday. of course the tech sector here stateside has been underperforming over the last week or so as other tech names have disappointed. hence an increased focus on apple earnings. the broader market up about 3% foll following --. back to you. >> -- stole from a tease before the break. >>> it is that time again in the fed kicks off its two day policy meeting. traders will be on the lookout. someone joins us now. great to have you on the show. what do we get from the fed because they have to somehow a

. >> great to see you wilfred. and have a nice weekend. meanwhile here in europe the euro zone finance ministers are set to meet on may 9th. one said we are 99% of the way there. however still working on con distincti tingsy measures. >> in comments to a spanish newspaper he added that pushing rates further into the negative territory does remain an option. negative rates have been very effective since their introduction in 2014. senior analyst from dansk bank market is with us. >> investments are paging up a bit. and more banks are willing to lend out. and something that's been supported. >> however inflation is still a problem. another negative reading coming out of france. awaiting the data in the euro zone in just a minute. >> we expect a negative print again today and that is also what we've seen in france, german and spanish figures coming out. we do believe -- will go down 2.8 again. so a --. we have very subdued pressure in the --. >> do you think it is going to continue? we keep hearing we are going to hit the 2% level in inflatio

. >> will wilfred joins us. hi. >> good morning nancy. how are you doing. ibm and netflix both already reporting yesterday. netflix topping the estimates on every metric. shares dropping after the firm says it expects to add 5,000 subscribers in the u.s. and two million in the second quarter. that is blow expected. part of the problem? the space is getting crowded. netflix ceo read hastings addressed the issue. >> there are so many competitors and everyone is working hard to build the best content. so we are seeing growth in the overall internet tv market. of course that is displacing linear tv. and it is natural that everybody is coming in as they realize that the future is internet tv. >> also reporting ibm and big blue earnings in arrive slid in first quarter though still beat expectation. but its older businesses are shrinking faster than new businesses are growing. shares dropping sharp lir in the market. yesterday some other stuff. and more to focus on and of course how markets opened following that oil volatility yesterday. >> incredible moves no dou

. >> and i'm wilfred frost. good morning to you from me as well. and happy friday. let's have a look at u.s. futures. sharp declines. over 1% in the dow. expected to open slightly positively. essentially we are flat in the pre market but called higher by 4 points. and the s&p by 1 and the nasdaq by about 17 points. let's look at the 10 year treasure note. yields ranging around 1.7 and 1 .9 over the last three weeks. >>> china's central bank fixing its currency t yuan higher. in fact at the sharpest pace since 2005 when china removed its peg to the u.s. dollar. there have been huge swings in currency all week long led by yesterday's massive jump in the yen. how did i miss that? a 3% move in the yen. bank of japan's surprise decision to do nothing and leave the monetary policy unchanged. and -- of course the big importance is the chinese currency's depreciation in the beginning of the year that was spooking markets and it's gone the other way and that is calming. >>> the dollar index, dollar briefly hitting its allows since august. the nikkei in japan was closed for a

wilfred frost joins us now with a preview of the sector. wilfred that's down about 8% this year. >> absolutely right. banks performing sector year to date down 7.6%. q1, the focus for the banks. three main areas of focus, energy, capital markets and interest rates. the first is energy. given the start of the year that the energy sector had, investors more focused on the level of writedowns and nonperforming loans than they have been since the start of the financial crisis. second area to focus on is capital markets. and this is the biggest reason for downgrades so far. falls will be particularly severe because of tough comparisons but whilst the absolute numbers will be down, 29% declines in the area expected. third is the retail bank business, the focus, of course is on interest rates. the december hike is a positive for this quarter's earnings, clearly analysts have reduced the expectations for further hike which is impacts their full year guidance for earnings. so, which names are we focusing on? nothing on monday and tuesday. jpmorgan w

wilfred, stay right there. citigroup saying it was approved by regulators. five of the other ones had their plans rejected. kayla tausche has more. >> well, kelly, it's the second time in recent years the fed and fdic have rejected a majority of resolution plans, plans that would wind down nipped of bail them out. all must address their shortcomings which raining from derivatives exposure to corporate governance. they have to address those by october 1st. the other banks have until july 2017. only citigroup received no objection, so of course the bank was very proud of that and issued a statement to that effect. fbr initial an analyst report saying giving the past hiccups, the fact they passed this should give comfort that the other banks will -- guggenheim suggesting -- doesn't necessarily on -- it determines capital payout, and we'll get those results in june. bank tracy additional have passed ccar evening when living willis have drawn criticism. the regulatory goalpost appears to be moving. government accountable says it needs to know more will how the fe

. >> thanks wilfred. >> maybe james bond's car of choice but for only $3.4 million you too can live out your spy fantasies. that is the value of the new aston martin vulcan of which only 3 of 24 vehicles made will hit the u.s. market. the racer is part of the british car giant's plans to launch at least one new car and two special addition models each year. nancy is at aston martin and for those watching "squawk box," i take it all back. i do really like that car. >> i knew i could turn you into a car girl eventually julia. and that vulcan standing right behind us. but with just two dozen of these it is not going change the financial future of aston martin. so to talk about a few more of the cars that could, let's talk to martin palmer. here we are looking at several of your cars old and new. you have been brought in here to reinvent the brand for the future. where are you in that and returning to profit. >> it is also about making the company sustainable and able to fund its future as an independent british company. the independent british car company basically. we've broken down to th

wilfred frost, who puts a selfie or two on facebook, joins us with a look at what we can expect. >> steve, i actually don't put a selfie or two on facebook because i'm not on facebook. but i'm on instagram. i put a selfie or two or five on that. >> i'm sure they all show you looking wonderful. go on. >> well, i'm not so sure about that. anyway, more than 1 billion people do use facebook daily, and the social media giant wants to gain even more engaged customers. ceo mark zuckerberg will take the stage today to talk about big plans rolling out this year. analysts are expecting a few areas of focus, including a so-called chat bot. this is a robot you communicate with on the messenger app. zuckerberg took to the air waves last we're, debuting features to make it easier for users to find and share clips. the final area to watch, virtual reality. it's all about the virtual reality content that they create. so a lot of eyes will be on facebook today. also, some fed speakers coming out. we have three fed speakers and the nfib small business sentiment survey. that'll be one to watch in terms of e

wilfred frost and mike santoli weigh in on that. >>> bill miller thinks valeant pharmaceutical shares could double and putting his money where his mouth is. he'll join us live after the bell. you're watching cnbc, first in business worldwide. you both have a perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. >>> wilfred frost is here with a lowdown on citigroup earnings and mike santoli is looking at the runup in shares of asset management com

wilfred frost will telling us the top things to look for. >> they have been the worst performing s&p sector. three areas to watch, energy, capital markets and interest rates. the first is energy, what does it do to credit write downs given the start of the year that the energy sector had, investors more focused on the nonperforming loans thaen they have been since the financial kriscy. secondary is capital markets and this is the biggest reason for downgrades during first quarter. falls will be severe because of tough comparisons but while the absolute numbers will be poor, banks have guided as much already. it would be hard to surprise on the downside with up to 20% of declines already expect. third is the impact on the core retail banking part on interest rates. important to note the december hike is a positive for this quarter's earnings but analysts have been reducing expectations for further hikes during the year which impact their full year expectations. so jp morgan, they kick things off on wednesday morning. on thursday we get both bank of america and wells fargo and then cit

wilfred frost joins us now. >> thank you very much eps coming in at $1.10 versus $1.3. the all important division is in line with forecasts though management said they're not confident yet that this was the worst quarter of the year but with oil above $40 the picture is improving. on the retail bank side in the u.s. the cfo said definitely seeing good activity in the economy and they saw year on year growth in loans for a first quarter for the first time since 2008. capital markets painted a similar picture. it's down 27% where as equities and fixed interest were doing a little bit better only down 13%. given the very tough headline environment one area that's been key for all banks this week has been expense management. the topic as you said back in the spotlight for goldman sachs today after a story emerged that they're planning big cost cuts. there's nothing new in that but the key though will be on head count it would underlie just how tough the revenue environment is in investment banking which of course makes up a bigger portion of the earnings for those two names

wilfred frost from hq. you've hung onto the early gains. >> yeah. it seems they go up every time the call goes on. it's like they expect the call to be terrible. that month of march was so much better. it's giving people hope and dragging a lot of stocks up that perhaps should not be dragged snup example. >> there are very few bangs that have the training vision that jp missouri began has. very few have a big loan division. i feel like you're at wells fargo and you're bank of america, you're saying, oh, man, i don't know if you have it. i think that puts a lot of pressure on them when it's typically been the other way. >> meanwhile alcoa which didn't get all the love yesterday gets some today. >> back to where it was. right before reported and the stock went down. look. i think that china is aluminum, china is steel. look at u.s. steel. china is copper. the china story's just going unnotic unnoticed. the chen's at 360 yesterday. no one wants to believe. the stocks want you to believe. look at caterpillar. don't forget, they have a giant elevator bus