>> don't go anywhere i'm on with larry up next in the kudlow report. there's always a bull market somewhere and i promise to try to find it just for you right here on "mad money." i'm jim cramer and i'll see you tomorrow. hello. you're watching "worldwide exchange." i'm ross westgate. the headlines today, european equities follow asia higher on hopes of more stimulus from china. can european stocks follow the trend? that was on pace for last week since october 2012. investors do cheer the kitchen sink approach from italian bank san paolo. now targeting an ambitious return to growth. bankers behind alibaba's blockbuster ipo is in for a

shock. the underwriting fees are just 1%. and facebook looks to the sky. the social media firm says it's using lasers as part of a plan to give the whole world internet access. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. hello and welcome to the last edition of "worldwide exchange" for the week as we come into this last session, you can see the dow jones stoxx 600 we are up. vapsers outpacing decliners by about 8/1 at the moment. the dow is really flat, just down five points. but it's been down four out of the last five sessions. right now, dow is called higher by 34 points.

the s&p is around 5 points above fair value and the nasdaq is up 14 points as you can see after being down 0.5% yesterday. as we were saying, it's the worst week since october 2012. so this is where we stand with those market moves. flat for the dow, the s&p down marginal marginally, the s&p down another 22 points. what have we done year-to-date? the dow so far now down 1.8%. the s&p is on that flat line. if it had an halts at 1849, that will be fairley key. the nasdaq down now 0.6% for the quarter. now, there are some big momentum stocks to the down side, as well. let's look at some of those. netflix this month, down 18%. tesla down 15.3% and zynga this month down 111.6%.

those are the standout stocks on the down side. as far as europe is concerned this morning, we've got to move higher. this is where we stand with the ftse 100. up 36 points, 0.5% higher. we've got current account deficit coming out today and the latest trends on gdp for the fourth quarter, the last revision. xetra dax up 0.7%. the cac 40 is up 0.3% and the ftse mib is up 0.8%. we continue to keep our eyes on the flattening trend as far as the u.s. treasuries are concerned. economic growth yesterday, ticked higher in that last revision. 2.4% in the previous quarter or 2.4% in the previous estimate. 30-year, 3.5% is the yield. the five-year, 1.71%, that has compressed to the tightest in five years. trending in europe, 2.76%. we were around 2.72 yesterday

before we got back to the data out. but 2.68% is where we stand at the moment. inflation in spain, coming in 2.2% year on year. currently at 3.20%. key inflation numbers coming out. could be 0.6. if it comes in at 0.5, pressure could ramp up. that's where we stand at the moment. meanwhile, china's premier has reacted to further signs of a soft landing in asia. in a report by the news ainge shingwai, they say they have policies in place to counter economic volatility. li sixuan is with us in singapore. hi, sixuan. >> thank you for that, ross. but in the meantime, china's

money rates picked up a quarter in demand. aso acted stronger than expected liquidity train by the pboc. saic motor was actually among the biggest gainers jumping over 8% at the country's biggest automaker announced a dividend hike. but the shenzhen was deeply in the red as tech shares and small cap stocks continue to tumble. better than expected banking earnings coming from icbc, the hang seng index gained over 11% thanks to hope that more analysts would be on its way to avert a sharp downturn. it was another choppy session in japan as it nears its fiscal year. march consumer inflation for the ninth straight month and labor demand improved. and the nikkei 225 gained 0.5% today and is up 3.3% for the

week. in south korea, the kospi tested highs thanks to foreign buying and had its best week up 2.4%. down under, australian miners rebounded sending the asx 200 hier by 0.3%. that is a look at asia. >> we have to say thank you and good-bye. i understand this is the last time you're appearing on "worldwide exchange." >> yes, you're right. it's been really nice working with you over the past three years. >> yeah. you're off to get married. is that right? >> yes, that's right. >> okay. well, look, we wish you all the best in your new life. thank you so much. >> thank you for that. keep in touch. >> all right. we will. thank you. brand new life. now, alibaba may halt ipos this year, but it won't be profitable for everyone noeinvolved.

"the wall street journal" writes there will be a base fee of 1% of more than 15 billion it expects to raise in a listing this summer. that will be one of the lowest payments ever the bank is for an ipo and for taking a foreign company public. the standard ip is 3% to 5%. the bankers aren't getting their cut. facebook's ceo mark zuckerberg says facebook is working on ways to beam internet access to people from the sky. the connectively lab is building drones, lasers and his goal is to bring the internet to make affordable access to basic internet services available to every person in the world. >> and a week after blocking twitter, teshgky's government now shuts down youtube.

turkey's prime minister announced the recording and people are launch ago political clock just days before local elections. voters will cast local ballots on sunday. and microsoft's new ceo nadella is ushering in a new era and publishing a long awaited app for ipad users. >> the big news on thursday is that microsoft is finally launching its office for ipad. this is going to come with excel, powerpoint and word. we've seen it debuted in the apps store. following the event, apple's ceo tim cook weighing in with a tweet welcome to the ipad and apps store. this is how it will work. anyone can download tutor ipad to view documents and give presentations, but only office 365 subscribers will have full access and be able to edit. here is what nadella himself had to say.

>> those beautiful applications on the ipad and do more is definitely the news of the day, but you can expect us -- our commitment going forward is to make sure that we drive office 365 everywhere. >> this represents a big step towards what experts are calling a more agnostic microsoft less tethers to windows. nadella himself saying this is only the beginning. expect more announcements in the coming weeks as he rolls out his innovation agenda around mobile and the cloud. the next announcement expected next week at microsoft's build developers conference. that will be centered around windows. back to you. >> let's give you a look at what's going on in the united states. present income spending is out at 8:30 eastern. incomes forecast to rise 0.2% and spending 0.3%. the final report on march consumer sentiment at 9:55. kansas city fed prettiester

george speaks at 1:15. blackberry reports earnings before the opening bell. the ceo john chen will be speaking to cnbc in an exclusive interview on "squawk on the street." don't miss that. it's at 11:00 a.m. eastern. there you go. japanese inflation, meanwhile, was up in march for the ninth consecutive month. household spending fell 1.5% in february from the year before. that could be blamed on snowy weather and tightening ahead of the april 1st tax hike. adam coal joins us. actually, adam, you've got a sales tax hike coming up. do you spend more ahead of it? >> indeed, you would. that's very much the evidence we see from sales tax hikes in japan and other companies. so far, there doesn't seem to be much of a boost in q1. we need to see the march

numbers. but at the moment, that would lead me to think there's a falloff in q2. >> where does this leave the yen? the yen doesn't seem to be trading on japanese fundamentals. you know, the risk averseness in the rest of the world and what's going on with the dollar. >> i think that's absolutely right. and the yen is the only currency left that's trading in line with this global risk aversion, the only safe haven left in developed markets. i think our worry is that the market has an awful lot priced in for boj and it has it priced in relatively quickly. more than 90% of analysts don't think the boj ease of gain and most think that happens quickly. my concern for the next few months is that even if the boj does ease, it's likely to be later on than sooner when you have a much more comprehensive picture. i think the risk is that you see some disappointment. building out there in large size

gets covered during the second quarter and there's a pullback lower in dollar/yen. >> we get these comments out from li for the economy. how is that feeding? the kiwi is doing fairley well. how is it reflected in the rest of the region? >> likewise, the aussie and the other commodities and the regional currencies in asia. we have to be a little careful in interpreting the remarks. it's not really clear to me whether we're talking about new easing or some of the infrastructure measures already in the pipeline. either way, near term has supported the local currencies and the commodities. i feel a lot more confident in the aussie than the other currencies. we think the domestic story is also changing. next week, there will be a material shift in their attitude of the exchange rate. >> all right. that is japan and asia. let's talk about the u.s. chicago fed president charles evans says the fed will need to

keep rates rock bottom until late next year, 2015, and then later for the next year, risks derailing the economy. speaking in hong kong, evans expects the fed funds rate at 1.25% until 2015. that is at sharp contrast to what james bullard said. that's quite a difference. 1.25%, adam, to 4%. so where is the market going to start pricing this? >> well, i think what you saw after yellen's remarks last week was that the market moved very quickly to bring forward expectations of fed tightening by three or four months on the back of that six-month comment that yellen made. since then, despite the range of comments that you highlight, expectations haven't moved a great deal. and we think from here with the market pretty much pricing in the six-month timeline that

yellen suggested, it's going to take quite a lot of news to get u.s. rate expectations moving any further from here. so, clearly, we look to next week. payrolls is the next stop and the activity data built up. but i think the hurdle is quite high for the market pricing in an earlier fed hike now after the shift last week. >> we've seen a lot of flattening in the u.s. yield curve. now we've got the tightest spread to five years between five years and 30. what is going to drive this? how much -- we continue to see twos and fives yields edge up. how much will that thwart the dollar? >> if it were to happen, then materially so. but we think, as you say, particularly front end where expectations matter most. this will sedate the driving shorter rates higher from here. what we're seeing perhaps in our markets and certainly today is

that it's -- the world outside the u.s. is really driving currencies in particular building expect ages from the ecb news next week and that's the more likely catalyst near term. >> yeah. look for that. adam, thanks and have a good weekend, adam cole joining us from rbc. still to come, diet coke meltdown.

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china's internet giant alibaba looking at forth coming ipo. and facebook has ambitions to connect people worldwide to the internet. in europe, pirelli is in the fast lane today, the italian carmaker reporting a rise in its revenue. the company is optimistic about the recovery in europe. aluminum produces rusal is

reporting a loss hurt by lower prices and restructuring charges. shares were down initially on the news, but it has signed a $400 million prepayment agreement with glencore xstrata. and investors are up 3% for intesa sanpaolo following a huge p write-down. let's get more on that. claudia, investa is giving the banks a glimmer of doubt. >> that loss is hefty, as you mentioned. 5.2 billion in the fourth quarter and that comes on the decision of a agreement to do write-downs as well as nonperforming loans for the year of 1.7 billion and for good will 5.8 billion. that was all in the quarter, which is why the loss in the fourth quarter was so large. the loss on the year is 4.5 billion if you include all of

that. but the market seems to be looking at other numbers. first of all, what's helping them is the revaluation of the stake at 2.6 billion euros. that revaluation is helping them on their profit/loss, not on their capital. dividend is five cents. and you were mentioning the plan which we will start hearing in just ten minutes. they will start laying out more details about the plan that includes return on equity expected to be at 10% versus the 3% that we see today in 2017. and a $10 billion euro dividend cash payment in the period. net profit reaching in 2017, 4.5 billion euros. let's talk about their capital strength, 12.3% is their common equity now and that's in line with basul 3 already. so for intesa, that's what the market seems to like, as well, because they are ready to face the stress test.

that's quite positive. common equity ratio for 2017 at 12.2. so these numbers are strong for the future. we'll hear what is said and we will bring that to you later on today. back to you, ross. >> thank you, claudia. we'll look forward to that. chinese president xi jinping is off to germany to meet chancellor angela merkel. the highlights of his two-day trip are a private dinner with the friends president francois hollande at the palace of versailles. back to italy, it's cracking down on governments in a slightly different way. now has begun listing state-owned cars and putting them up for sale on ebay. six cars have been posted so far. the offers have been rolling in. the government says over the next three weeks, a total of 150

nonessential cars will be sold. there are a few maseratis and a couple of jags might be on there, as well. worth having a look at. still to come, social networking may be all the rage. what about those of you that are a little more private? we'll be joined by the founder of cloak, the new antisocial app. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration.

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nbc's jimmy fallon talking about a new app that might help you do just that. >> a new iphone app now called cloak that can show you where your friends are so that you can avoid them. >> true. clock works by specifically marking people you would like to ignore and if they come anywhere near you, you would be notified. so joining us is brian moore, co-founder of clock app. he's on the line from new york. brian, very good morning to you. you launched this because you

kept running into your ex-girlfriend and you didn't want to. is that right? >> that's exactly right. it was about four years ago that i moved to new york and i ran into my ex-girlfriend four times in six months which i didn't think was physically possible, but it did happen. >> so you launched an app that helps you avoid people in your social network that you don't want to see. how do you do that? you're looking at location data from instagram and four square? >> yes. you log in using instagram or four square. you then get a map of all your friends that you follow within the app. and you can mark individual people, people you might want to avoid, say ex-girlfriends or coworkers, say, if you're taking a fake sick day. then you get alerted if you get within any range, say a half mile. >> when did you put this out there and how many users have you got? >> it's been a short amount of

time. it's only been about a week and a half or so. we're seeing somewhere in the realm of 240,000 downloads so far. so pretty great so far. >> is this suggesting we've now reached an anti-facebook age, an antisocial media? have we had enough of connecting? >> that's a really good question. i think -- the way i look at it is this is sort of a compliment to social networks. i'm someone who shares my location. i check in on four square. i take instagram photos, i share on facebook. but there are sometimes when you want to do the opposite. you want to stay off the grid, you want to avoid people. we have so much information that we see of our friends and so much information that we share, sometimes we just need the balance on the other side of things. >> why aren't you using facebook and twitter location data? >> we're looking into that right now, actually. but surprisingly -- well, not surprising with four square because you're checking in

locations. with instagram, there's a lot of really good location data there. people have photo apps and they take photos and that is put on to an app and we can use that information. with facebook and twitter, the location data isn't as good, but it's still there. we're looking into using that right now. >> briep, nice to see you. looking forward to not bumping into you again. thanks for that, brian. good to speak to you this morning. brian moore, co-founder at cloak, the new antisocial app. still to come, is blackberry's battery set to run out or could the new focus on enterprise services give it an energy boost? we'll have shareholders perspective after the break. ♪

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welcome to "worldwide exchange." european equities follow asia higher. more stimulus from china, but we'll see whether u.s. stocks can follow. the nasdaq currently up after the worst week since 2012.

investors cheer hopes near a 6 billion euro write-down. but it's now touting an ambitiousalibaba's ipo could be for something of a shock. the tech giant is going to pay underwriting fees of just 1%. facebook says it's using drones and lasers as part of a plan to try and give the whole world internet access. you're watching "worldwide exchange," bringing you business new from around the globe. hello. welcome to you. if you've just joined us stateside, we've been down over the last five sessions for u.s. stocks. the s&p barely in positive territory.

we're down at six-week lows. the worst week since 2012. the s&p is currently called higher by around 5 points. analysts will be fairley comfortable inching just a smidgenon above the flat line for the year. european equities have been b firmer during the session on the dow jones stoxx 600. we've seen advancers outpacing decliners by around 8/1. the xetra dax is up 0.8%. the cac 40 is up 0.3% and the ftse mib is up 0.8%. >> all that investors are doing is saying markets are fairley priced and markets probably are fairley priced at the moment. the idea of markets going up is a good thing is completely nonsense. it's only a good thing if

markets are supposed to go up. if markets are fairley quiet, then they're not supposed to go up. we don't want a bubble. >> more interesting area for equities just here, actually. and that, i think, is a much more potent story from what's going on, obviously, in europe and the -- going on and what's happening in the banking sector. >> obviously, the emerging market world either beginning to pick up. we've seen a reasonable week so far from the emerging markets. it may be the beginning of a fiscal recovery after, what, 18 months, two years of underperformance? all in the right places. >> all right. the final uk gdp hasn't been revised for the fourth quarter up 2.7% year on year.

this is the fourth quarter for uk gdp. no revisions from the final print. and the good news is the current account deficit has been revised slightly for the fourth quarter. it's still exceptionally large. just dipping slightly on that still above 1.66 against the greenback. meanwhile, the latest press conference for missing malaysian flight mh-370 is under way. we'll bring you any updates on that as they come through. they have moved the search area overnight as they realize the plane is gaining faster than they originally thought. so any comments out of that in the next half hour, we'll bring those to you. meanwhile, alibaba won't be possible for everyone involved. "the wall street journal" is reporting the company would pay underwriters a base of 1% on the

more than 15 billion it expects to raise this summer. that would be the lowest fee ever for taking a foreign company public. the standard fee on an ipo is around 3% to 5%. the journal says the fees were discussed at a kickoff meeting in hong kong earlier this week, which was attended by alibaba's founder, jack marr. facebook's ceo mark zuckerberg says the company is working on ways to beam internet access to people from the sky. facebook's connectivity lab is building drones, lasers and satellites all with the aim of bringing affordable internet access to the world. in a block post, zuckerberg said his goal is to make affordable internet access to every person on the globe. and the week after blocking twitter, turkish government is now taking down another site, this time youtube. this follows an anonymous leaked recording in which top security officials discussed plans for

military action in syria. the turkish prime minister denounced the recording and accused its rivals of launching a political block just days before local elections. voters are casting ballots on sunday. now, the struggling smartphonemaker blackberry is reporting fourth quarter results before the opening in the united states. the analysts are expecting weak results. chairman and ceo john chen has developed a plan to make money. the shares are up some 21% this year, although over the last 12 months you can see they're down around, say, 8%. joining us is the president of contraherd investment. good to see you, ben. what does john chen have to do today to get investors believing? >> well, i think we have to

provide more confidence in just what his plan is. i think part of it is based on his history. i think he has to show people that a quarterly number is not as important as the long-term moves that he's looking to make. and i think if you look back to the last quarter, he came in with one surprise. we're going to have to see if he has some other surprises up his sleeve and just the direction the company is taking. >> yeah. i mean, this is a roller coaster of a ride for shareholders. do you think the chances of -- what has the biggest chance now, another dip or another up move? >> well, i think the chances are probably for another dip right now unless he comes in with a surprise again on the upside. i think there's going to be a lot of write-downs. one of the questions is how much are cash write-downs as compared to noncash write-downs.

but this company, as we said in our last letter, it's a bit like snakes and ladders. every day, there's news about this company and you could buy and sell in the same day. at our investment letter, we're long-term holders, average about 3 1/2 years. so we're not as concerned about all of the noise out there. and as an investor, you really have to watch the amount of noise on this company because you can go crazy. in some ways, it reminds me of the company you were just talking about when we bought into yahoo! at $11.1 1 and people said it was a dinosaur, it was going to die. recently we sold for 34, 52% at $34.84. we think it will go higher with alibaba. blackberry could have a turn around of the same sorts, but it is certainly not guaranteed. as a shareholder, obviously, i believe in it. >> benj, good to talk to you this morning. we're going to lose the line on you so we have to go.

we appreciate you speaking to us. thank you so much. don't forget blackberry's ceo john chen will be speaking to cnbc following results today at "squawk on the street" at 11:00 eastern which is 3:00 cet. amazon says it has no plans for a free streaming video service, addressing speculation ahead of the media in new york. "the wall street journal" reports amazon is considering a free music streaming and tv video service supported by ads. amazon has invested heavily in providing shows and movies to customers who pay $99 a year for its prime service which offers free two-day shipping. amazon stock in frankfurt, barely moved, just up 0.1%. walmart is suing visa over so-called swipe fees. the $5 billion suit filed earlier this week claims visa passed on unreasonable fees when

users use visa or debit cards. walmart and target opted out so they could seek damages on their own. walmart stock down 0.4% and visa up 0.2%. it doesn't feel like spring yet, but things are melting down at 7-eleven. months after rolling out the diet coke slurpee, the drink has been pulled. the problem, it just doesn't freeze right. coke says they finally cracked the code after 31 years on how to turn diet coke into a frozen drink. the beverage digest says it's not that simple to freeze diet soda because the sweeteners don't handle the process as well as good old sugar and corn syrup. a good problem. still to come, the white

house says obamacare enrollment hits a new milestone as the deadline for people to sign up looms on monday. we'll have the numbers and the new public opinion poll on the health care program right after this. this. dunno, i just ah woke up today and i said i need something sportier. annnd done. ok maxwell, just need to ah contact your insurance company with the vin number. oh, i just did it. with my geico app. vin # is up to the loaded. ok well then jerry here will take you through all of the features then. why don't weeeeeeeeeeee go out to the car. ok, i'll just be outside... ok, yeah. his dad is my boss. yeah. vin scanning to add a car. just a tap away on the geico app.

impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. a recap of the headlines,

european equities with expectations china steps up spending. china's internet giant alibaba is paying just 1% for its upcoming ipo. and facebook connects people in remote areas to the internet. british insurance stocks under pressure this morning after a report which suggests that for the financial watchdog could be playing to investigate the firm. down 9% for resolution. legal & general down nearly 5%. prudential down 2%. reuters is looking at whether people who have savings plans 30 compared to new customers. they take into account whether exit fees for customers who wish to withdraw funds are fair. they're set to publish its report on monday. meanwhile, the white house says

more than 6 million people have now enrolled as the deadline to start the signup process looms on monday. bertha loves to follow the details of this. she's in usa quarters with more. hi, bertha. >> hell loy. yeah, we knew there would be a lot of procrastinators. they seem to be signing them up at a rate of about 100,000 a day. just ten days ago, the obama white house listed people at 10 million people. this late boost tops forecasts from the congressional budget office, but only about 6 million people would sign up for obamacare in the first year. that was a revised number down from earlier estimates of 7 million because of that botched low out of the website in october. the white house says traffic on healthcare.gov, which handles enrollment for some 36 states has been heavy this week and

that the website has held up well. it's had more than 1.5 million visits on wednesday alone. president obama even took time out from his trip to rome to announce the good news. he spoke on thursday on a conference call to thousands of workers and volunteers who are helping people to enroll in insurance plans via call centers or in person. it's unclear just what the demographic make up is of this last-minute surge that we've seen or whether some of these people or how many of these people were previously uninsured. interestingly enough, they don't ask that question on the applicati application. some states have been asking, states like new york, where they've seen a large number of uninsured. but on the federal question heihei aire they don't have that question at all. we're unsure how many of these people will pay for their new policies. we'll have a couple of weeks after that and that's when the

plans will take effect. the administration has been aggressively targeting younger generations because their participation will be critical to make sure we have a pool that is more balanced. younger consumers tend to be healthier and offset higher costs associated with older enrollees. public support for obamacare continues to hold at the lowest level since the affordable care act was passed four years ago. a new ap poll finds just 26% of americans are in favor of the program. about 13% still think the law will be repealed. a narrow majority expect that it will be further implemented with changes. the poll was taken before the white house announcement on thursday. the interesting thing is, at the beginning, six months ago, they couldn't get the website to work. now the front end seems to be working pretty well. they had instituted a cueing system so that if people came in and it was too slow, they would be called back later.

but they haven't had to use that over the last few days. it's really working pretty well. >> good. improvement. i like that. bertha, thanks for that. have a great day and a good weekend when it starts. >> thanks. now, for the first time in decades, key business employments is opening up for the rest of the world. a new lie will law 100% benefit from investors. on top of that, cnbc's michelle caruso cabrera has more in this report. >> for years, the socialist cuban government claimed it was interested in foreign investment, and yet it did nearly everything possible to make cuba uninvestble. but a new law is expected to be approved on saturday which would change some of that. instead of being forced into a joint venture, foreign investors will supposedly be able to own a business outright. this is a huge change. fidel kas castro seized all

businesses in the 1960s and everyone had to work for the government, not themselves. they plan to lower corporate taxes dramatically from 30% to 15%. tax owes on labor will go away completely. first, there's no rule of law in cuba, no real property rights, either. investors have no assurance of a clean judicial path to resolve any dispute. cuba desperately needs investment. take a look at this clothing shop that we visited in july. se seamstresses were working on sewing machines from the 1950s in the united states. americans are prevented from doing business there because of any way, shake or form because of the embargo put in place in the 1960s. cubans living in cuba are not permitted to invest in cuba. one critic of the government

calls it investor apartheid. back to you. meanwhile, the ipo frenzy continues. as it folds itself to investors, we'll have details after this. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration.

cbs's outdoor prices ip on the o at $28 a share. cbs will still control the majority of the firm after the ipo, but is converting it to a real estate investment for tax purposes. cbs outdoor, which has more than 3 million billboardses throughout the u.s. will trade

at cbso. income is forecast to rise 0.2% and spending 0.3%. kansas city fed president esther george speaks out at 1:15. and blackberry reports fourth quarter results before the opening bell. the blackberry ceo john chen will be speaking to cnbc. it's an exclusive interview on "squawk on the street" and it's just after 1:00 a.m. eastern. don't miss out on that. u.s. futures, particular a little higher at the open this morning on. the s&p is around about 5.5 points above fair value. allen nukman is chief strategist at one stop option. allen, four out of five sessions we've been doing this week. the s&p barely in positive territory at the moment. but as we said, is 1840 a big level for you? >> yes, it is. and in looking at it, 1825, that was a breakout area.

if you remember many months ago, that's held with long-term support. that's the recent lows that we've seen in the last many weeks. we've been trading at 1880.5 and futures at the 57 point range. we're coming to that mid point at 1852. as we get back up to these highs, that targets 1937 another 5% higher. i'm very optimistic, especially the last couple of weeks, which are the end of the earnings season. that's typically when the market fell down because there's no fundamental news. it's held up pretty well. we're only down .5% on the week. >> yeah. i mean, the thing is, we're at the end of the quarter. typically people don't like to fall down and window dress to push things down, don't they? >> well, i think because we don't get the earnings in our face every day to remind us how corporations are doing. if you look at the last three quarters, there's a bit of a disappointment where people don't have that news every day. so, you know, the window

dressing, i'm old school. that used to happen years ago. but i don't think it happens as much now as it did in the years past. i think the markets move on their own news. and i'm still very, very positive. i'm looking at some stocks that i think i find interesting right now. old stocks have become new again that we've seen a nice run in hewlett packard. we've seen a nice run in microsoft. i think that's a healthy sign that people are finding value in companies generating serious revenue as opposed to still chasing some of the exciting shiny stocks. >> if they're at fair values, people want the markets to go up or down. we could just stay where we are, right, briefly? >> well, i'm very encouraged by the fact that both sides are unchanged in the s&p. i'm looking at the next leg up here. i also like yahoo!. $2 off in both of those for the long-term. >> allen, thanks for that. that's it for the week on

"worldwide exchange." "squawk box" is coming up next. .

good morning. welcome to "squawk box." walmart taking a legal swipe on visa to the tune of $5 billion. facebook, next frontier. internet delivered by satellite and drones. and the four teams, that leaves four of them, of the elite eight. i have three of them. and there are three favorites and one cinderella story, the flyers. advancing after another big night of college hoops. but, wow, there's some great games tonight, including my guys at iowa state. it's friday, march 28th, 2014 and "squawk box" begins right now.

good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew will join us a little later from the big easy. he has some very special powers in deal making. in the meantime, though, let's take a look at the markets. let's take a look at what's been happening with the future. you will see dow futures are indicated up higher. the s&p futures up by just over 5. yesterday was basically a watch. the dow was down, but only by about 4 points. this comes after what we saw yesterday, what we've been watching for this week. the s&p 500 is still holding above 1840, but it is now essentially flat for the full year. as for europe this morning, take a look. in the early trade, things are trading higher and indicated higher. the dax in germany is up by 0.9%. the ftse