welcome everyone. you're watching worldwide exchange i'm seema mody. >> i'm wilfred frost. here are your headlines from around the world. >> the dollar rebounds despite tensions in yemen. >> the instability helps push u.s. stocks into negative territory for the fourth straight sessions but futures point to a higher open today. >> amazon goes shopping. the e-commerce giant is in talks

for its biggest acquisition yet. >> yahoo! shares move higher after the board approves a $2 billion stock buy back. this as it prepares to spin off it's stake in alibaba. what a weekend itsz been's been for markets. yesterday we did see it strengthen against the euro. a lot of focus for yemen as well. a lot to digest. >> that's been one factor but if we look over the last four weeks last week was the first week of gains for u.s. equities. we thought that might be the turn around and this week once again very volatile and negative for u.s. markets. >> it was one of the biggest underperformers this week. a lot of that having to do with

bio tech. a little bit of a rebound yesterday. let's take a look at premarket trade. the dow jones indicating a higher open up by 9 points. s&p 500 down fractionally on the day. we'll keep an eye on free market trade throughout the show. take a look at european markets. a lot of focus has been on the currency market. we did see the euro gain ground over the last couple of days. it's a two part story. manufacturing at a four year high. that pushed the euro higher but analysts still expect the euro to continue to weaken against the u.s. dollar over the next couple of months. in fact steven joined us yesterday on worldwide exchange. he sees the euro trading in parity in the next six to 12 months. yesterday a down session for european markets. today we are higher. the dax, cac 40 o, italian

markets in the green. the u.k. market slightly lower on the day. >> indeed. ten days ago janet yellen had dovish things to say. we saw the u.s. yield fall below below .9%. but yesterday disappointing auction of ten year notes saw the u. s. ten year yield back up above 2%. it's just below that level today. 1.98% but how short lived is the move paced on rhetoric. a good indicator of where rate raise expectations are. contrast to europe .9% in germany. let's look at the sentiment over the hast tenlast ten days has been u.s. dollar weakness. that's not the case today. we see dollar bouncing back. you can see the euro weak to the

tune of .6%. the 1.08 handle and is that a sign that the recent ten day u.s. dollar weakness that we've seen was just a blip or is this something more pronounced? that's been the question over the last ten days or so. let's look at commodities as well because the oil price very much in focus. yesterday we saw a 4% bounce roughly or so speaking after we saw those issues in yemen. the geo political issues today. we'll see of course the oil price has weakened after a strong rally yesterday. that will geopolitical driven bounce be short lived or not. wti and brent 57.9. >> the price of oil on the slide after the sharp gains following the launch in air strikes in yemen by a saudi lead coalition. they're saying the assault would

have only a impact on supply. it sits on the bab el-mandeb straight. >> war planes struck an air force base just five kilometers from the oil field. meanwhile yemen's president is expected to attempt an arab summit this weekend. the leader of the group accused them of a campaign aimed at occupying the country. let's get the latest from hadley gamble with more on the story. lots of different sides making their stakes in the public arena but this is a saudi versus iran fight on the surface. >> absolutely yes. we talked about this yesterday about this being the soft underbelly of arabia and you're not going to allow them to take over iran and you heard from the u. s. yesterday and they're saying the same thing but what i think is interesting and

fascinating to watch is the fact that the arab countries, for so long the arab league was so toothless and they would make these big grand pronouncements and nothing would happen because they couldn't get everybody on board but it's interesting now to note what we're seeing with the negotiations with iran we're closer now than ever to drawing these guys together in terms of the gcc countries and egypt as well. >> that iran-u.s. deal deadlyine fastly approaching. today slightly lower but yesterday quite the rebound back above $50. we know they're far away from the eastern part of saudi arabia where the oil deposits are but it's strategic location of yemen could result in the transportation of oil being disrupted. on average tankers carry about 4 million barrels of oil through the red sea to europe. at this point what do we know about if they he have a force

that could disrupt transportation of oil. >> there's not much to speak of in that arena. so in terms of the actual ability of the rebels to close that straight they don't have one but they worry that since they have the backing of iran that some major problems can happen. you wouldn't see that in the persian gulf because that's how they get it out to markets but there's worry there would be reaction to supporting these guys but i don't see that happening and they don't have that capability themselves. it's more interesting if you look at the fact that the gcc allies egypt sending warships they have come out and said we're going to secure the entire arabian arabian peninsula without the backing of the united states. they're doing this on their own and it's a huge psychological

shift from what we have seen in the past from saudi arabia. >> now, karen caught up with david harding at last night's investment choice awards in london and asked how the lower oil price was impacting his portfolio. >> we're still short oil and still long dollar. i wouldn't say that constitutes a forecast. it doesn't. when the markets turn we usually lose money but what we do has worked over the last 20 years very well. you mentioned the bull markets in bonds which was terrific for us. the bare market in oil was also terrific for us because as a big future's trader we were short. that doesn't mean we have that because we had been long in the previous five years and we lost lot of money i can assure you. we paid our dues. by the time the market goes from

100 to 50 in a straight line you have to be pretty bad not to make money. we managed to make lots of money out of that trend in oil and we also made a lot of money out of the bull trend in the dollar which was one you couldn't miss. it was like shooting fish in barrel to be a trend follower last year. the trend followers deserve it because they had three or four pretty tough years so they deserve, they deserve a reward for their patience. >> so of course one of the big investors using computer algorithms. he said the momentum followers deserve it and at the end they get a reward for their patience. that would worry me if someone is investing on the basis of i deserve things to come back in my favor. >> momentum can work for you on the upside but kill you in the down side.

i would point out the currency market grabbing headlines. a 10% dollar appreciation takes about 1% off of u.s. gdp. just to put into context the type of dollar not just on export growth but specifically gdp is something to keep in mind. >> specifically on the fundamentals is what you're saying because as a momentum trader when it changes direction they get hit hard. >> yeah. >> different ways of investing. u.s. dollar trade is a tough one to pick apart. >> something we'll continue to watch. let's get you a run down of what to watch this trading day. the final estimate of 4th quarter gdp is out. growth is forecast to be revised from 2.2% to 2.4%. at 10:00 a.m. we get the final reading on march consumer sentiment. that will be interesting given the drop we have been seeing in oil prices. janet yellen speaks right before the closing bell at 3:45 p.m. eastern.

stanley fisher is speaking again in germany in the next hour. blackberry reports fourth quarter results before the opening bell. in fact the ceo will be on squawk alley today at 11:00 a.m. eastern to discuss the smartphone maker's latest earnings. >> now still to come here on worldwide exchange the mystery surrounding the germanwings crash continues as investigators look for answers into the motive of the co-pilot. annetta joins us live after this short break.

welcome back. oil splits back in the red. the dollar rebounds. yahoo! tries to appease shareholders with a $2 billion stock buy back and tim cook joins a list of billionaires pledging to give away nearly all of his fortune to charity. >> french prosecutors are looking for a motive after receiling thursday that they reveal the copilot of a german wings plane deliberately brought the plane down. officials say the pilot was alone in the cockpit when the plane crashed. let's get more on the story with

annetta outside of the airport. >> well we also here in germany have investigators looking into the case and they have been looking into the apartments of the co-pilot. only 27 years old and he is reporting they have found evidence for a mantle disorder of the copilot in his apartment. that's not con if i recalled by the official side but that's what they're reporting. at the same time the biggest tabloid here in germany is saying that they had a look at his health records and also that those health records are saying that in 2009 he was diagnosed with a severe depression. having said that they're still saying he was actually really fit to fly according to the checks he had to undergo at the

airline and they are also saying that he has passed of course the very secure health check at the beginning of his career. currently in germany the discussion is also flying high that we should have also regular checks regarding the mental health of pilot which is is not the case yet. they're only checked for their mental health at the beginning of their career and also at the same time the search for the second black box is on going in the french alps. for the moment i'm sending it back to you wilfred. >> thank you very much for that. >> live breaking news out of amsterdam. a major power outage hit amsterdam and several hours. they had an overload on the power lines. we'll get you more on that story when we get it. now at least 19 people were

swrur injured after an explosion. they were installing a new gas meter moments before the explosion. more than 200 firefighters responded to the blast and will continue pouring water on the reminisces well into today. still to come we'll get on to twitter as we'll be chatting about parascope and streaming the whole thing live. that will be coming up shortly. >> and is he a good apple? find out how tim cook is spending his millions when we return. ♪ ♪ ♪ (under loud music) this is the place. ♪ ♪ ♪ their beard salve is made from ♪ ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing you see what's coming next. you see opportunity. that's what a type e does.

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welcome back. a growing number of tech entrepreneurs are looking to shake up finance vowing to reduce transparency and reduce customer relationships. they're changing the way institutional investors do hedge funds. i asked who the company is appealing to. >> this is for institutional investors. they're spending a lot of time effort and capital to find these funds. so at this point it's for large pensions big asset managers that really need a platform that

allows them to go through massive amounts of data to help them find what's good for their portfolio. >> how are you able to find the right people to build this platform that have the expertise in tech but also understand finance? >> this is a unique question because the way i thought about solving this problem was not to take traditional people that have been working at banks. what i wanted to do is do a multidisciplinary approach. i wanted to take technologists working for google and paypal and other big technology companies and match them with capital markets and blend those two together and bring another group of people scientific people that are experts in

computational path or behavioral finance and bring them together to build a novel and innovative platform. >> how do you ensure the data is safe and protected given that the data on returns and size of the hedge funds is pry rat information. >> yeah, so this is something that's really evolved since i've been in the industry over 20 years is that 20 years ago this data was so difficult to get but today you can, because of some regulatory things that have changed, you can get some of this data so for instance now any hedge fund that is over $150 million in the united states has to register. so they have to register and they have to fill out an adv. you have a lot of regulatory documents. all of their long positions you have to report to the fcc so they're able to pull that data down and the data based companies we use are good about making sure that the data is

precise. with that the aum, the performance data the regulatory data and other data sources we can pull feel very comfortable around the data. now part of the cyber security is very important so we go to extra lengths to make sure the data is protected and private and no one has access to it except for the people that are credited investors. >> the social network or the tender of hedge funds helping institutional investors connect with hedge funds. it has over 16,000 funds on its site. can it disrupt the hedge fund market with their technology because this is a part of the world, if you will that isn't so used to using technology to find perspective hedge funds to invest in. >> they have the right expertise to do it. it's not just can they disrupt the hedge fund markets it's can they disrupt the prime brokerage

markets that the long-term investors use to find hedge funds and the like. very interesting the raised money from different banks as well as carlos slim. the wealthy mexican business man. we'll have to keep a watch on it. >> great stuff. you can check out all of our coverage on our social reports page. head to cnbc.com. >> switer launched it's own live streaming video app after last month blocking mere cat from tapping into it's community. the new app is part of a major push for pictures video and interactive content. >> twitters periscope launching the live video app today and the question is whether they can catch up with merecat's first mover advantage. it alerts twitter followers and starts a public live stream.

it's differentiated because the videos are available for 24 hours. they can be saved for a personal library and you have the option of broadcasting privately to a small group. periscope is faster making posting commentsor sending hearts more engagement. >> if you're watching me and i'm giving you a tour of my office you say take me to that room over there and two seconds later i take you there. that makes you in the director stream. it's like a teleportation device. it's part of twitter's network. >> it's what twitter is but through 140 characters rather than live video. when we realize that alignment was there we realize that the marriage of these two companies can help us make our vision a reality put more quickly.

>> periscope is launching without adds but there's potential for brands to interact just like they can pay to promote twitter accounts or tweets. back to you. >> i have to say, this is pretty awesome. we started playing around with it. you can watch what we're streaming as well on periscope on twitter. there you go. you can see it. that's a little bit delayed to what you're watching live and i think it's pretty amazing. as you can see it's still quite jittery and not fantastic quality but it's easy to do. one of my friends was just jogging and already this is picking up quite a lot of followers. >> it's fun but does it add value to society. do i want to watch your friend jogging? i'm not sure. so there's a little bit of a delay here but just so you know wilfred is walking around the studio streaming the show through periscope. >> will it add anything to

society we don't know. is it cool and fun? i think it is. so you can see what we have a look at every day from behind the scenes as you can see a few of the other shots. i think it's cool. i'm impressed with it. they had to oust the previous app in doing it and some people in the background we'll get away see, there we go. this is twitter, periscope in action. >> but the big question is who is going to win the video streaming battle? merecat had a massive following. specifically the millennial audience. they made the acquisition of periscope but they're still late to the game. can they still get a strong following if you will in the video streaming space despite the lead and the presence that merecat has. >> absolutely. >> you're like i don't care. i'm having fun with this ap. >> no they were a big leader on twitter and it's trying to blow

them out of the water a little bit. >> twitter is up 40% already this year. quite the come back. last year the big discussion was twitter versus facebook. twitter was down about 40% in 2014. facebook was up 42% but just this year yes, we're only in mashlg but the stock is up 20%. >> we should move on. >> yes, but take a look at futures. what we could potentially see on wall street. a wild ride over the past couple of days. the dow indicating a lower open. s&p 500 down by 2. oil prices right now trading lower. we're back in 2 guys. stick with us. ad. our experienced investment professionals are one reason over 85% of our mutual funds beat their 10-year lipper averages. so in a variety of markets we can help you feel confident.

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happy friday everyone. you're watching worldwide exchange and i'm seema mody. >> i'm wilfred frost. >> oil prices right now back on the slide as the dollar rebounds. this despite continued tensions in yemen where war planes hit an air force base three miles from a key oil field. >> the instability in yemen helps push u.s. stocks into negative territory for the fourth straight day yesterday but futures point to a higher open on wall street today. >> amazon goes shopping. the e-commerce giant is in talks to buy the online luxury

retailer in the biggest acquisition yet. >> yahoo!'s board approves a $2 billion buy back as it prepares to spin off it's stake in alibaba. >> that's important for those watching for a potential rebound. dax down just 2. cac 40 back into the green for about five points. the italian market showing a negative. down about 42 points. greece will continue to be a big

story. we're expecting athens to unveil the list of reforms on monday. they say don't get your hopes up. they expect negotiations to remain protracted in the coming weeks. we'll be sure to watch the situation in greece and how that will impact investor sentiment. keep an eye on the euro dollar. it's come off the lows of its session but still at 103 encouraging data out of the euro zone. earlier this week pushed the euro higher against the dollar. right now it's trading at 108 against the green back. now karen spoke to some of the world's leading hedge fund managers last night and asked about the biggest risks facing global markets. >> i do get a quite sense that it's going to come back to the markets in the short-term. i think by driving interest rates to zero people have an

unreasonable search for yield and they're starting to become very come playplacent about yield. those chickens will come home to roost in the very near future. >> the biggest risks are always the unknowns right? the risks that are known don't usually surprise the market but the big one out there is probably a slow down in the u. s. right? so you've seen the fed is concerned about that and then they're always creating bubbles. so you have to watch out for that. >> it's something that i don't think will be good for the market as a whole. it causes so much uncertainty. there will be a hiatus in any

decision making. it's probably going to come if a second election or some sort of coalition ends. europe is our largest trading partner and so i don't see how it would be a good thing for the u.k. market. >> let's talk more about this week's live swings with the head of fixed interest. a pleasure to have you on worldwide exchange. >> good morning. >> the economy has been front and center this week. various fed officials speaking about when we'll see a rate hike. we had stanley fisher saying they're itching to raise rates. on the other hand you have the dove saying rates shouldn't be raised until 2016 so conflicting views with janet yellen at the helm. patience was removed which does suggest we should see a rate hike in september. do you think they'll lift off then? >> could be september and some people are still saying june. the big thing here is there's a lot more volatility in bond

markets. the reason why that is is we just don't know. the big thing that happened a week or two ago is the fed dot plots dropped. so that was for bond markets to go much better and since that time we have all become much more data dependent. september is more likely for me. >> we're back to 2%. quite a big move in the bond market. at the same time stocks weren't doing well. what do you think was driving the particular move yesterday? does that imply to you that people are ignoring the dovish comments from yellen. >> overall we've seen big moves in bond markets and equity markets. when we see them fill up one way and rachet back the other way there's profit take. >> of course the other big story is the escalated tensions in yemen. how much of that is driving investors into safe haven assets like treasuries going forward. >> you would expect treasuries

to go better. the most important thing is the expectations for monetary policy. >> let's talk about the dollar in the headlines since janet yellen's comments. do you think the correction and weakness we have seen is that an outright change in direction or a brief blip? >> seems to me most people think we could well get to parity but my take on this now at the moment if you hook where the surprises start to come from you might get to see upward surprises in the european economy and inflation. if we look at the five year inflation forward you'll find that's gone from 150 to 170. i know the general outlook of monetary policy is that the u.s. is going to title at some point. euro is still very weak. surprising data might start to favor europe now. >> thank you for joining us as ever. head of fixed interest.

now let's take a look at some of today's other top stories. rbs is selling the international arm of its private wealth management group to switzerland's ubp. both agreed not to disclose the terms of the deal but they said the price would be around 600 to $800 million. rbs expects to receive a premium and the value would be determined by assets under manage lt when the deal closes. let's look at share prices -- we haven't gotten that at the moment. we'll move on. >> they reaped 22 billion. commodities fair the worst with revenue down nearly 13% although it still lead the fed. morgan stanley topped j.p. morgan with revenue up 15% over

it's rivals. a look at the banks. coming up activist investors were pressuring yahoo! to cut costs and return more cash to shareholders. the latest move to fend off the critics, next.

it's your favorite time of the week. do get in touch with us and tell us who you think wins this 30 second versus 30 second debate. i'm going to kick it off. my chart of the week is oil prices. wti up 8.3% on the week despite a 2% fall today. so the oil route is over. it's done. the supply side issues have gone away. that's what this chart might suggest but i don't think this is the full story of course. this is a geopolitical rise in the oil price. particularly the move on thursday with the saudi backed air strikes on yemen. the question is will the oil price stay elevated enough for long enough based on geo mitt cal issues to make supply and demand decisions change in particular in the u.s. at the moment we're looking at an 8% gain in oil prices this week. will it last? >> oil has been a concern or focal point for investors for many months now. this is chart of the week and

this is the chart investors have been focussing on. bio tech. there's been signs of a bubble and that came front and center to investors this week. we did see a sell off in bio tech stocks. losing about 6% this week. it came back a little bit in yesterday's trade but still a lot of concerns around valuations but keep in mind that the bio tech index has been on the massive run up about 40% thanks to positive drug trials as well as better than expected earnings but every rally has its moments of breathers if you will and that's what we're seeing this week. the big question is will it continue? that's why i think this is the chart of the week because it was the sell off that many traders say sparked the broader market sell off that we had. >> it was a nice pitch. you don't fool anyone. oil is the chart of the week. get in touch on twitter with who you think got the best chart of the week. yahoo! made more than $5 billion from alibaba's record setting

ipo last year and now they decided what to do with some of the money. landon joins us from cnbc hq. >> who is winning in the battle against seema and wilfred? seema might have you on this one. >> thank you landon. >> i'm done. >> always taking longer. you get like 90 seconds. it's ridiculous. >> he never plays by the rules. >> you picked up an a sore point because as of a couple of weeks time. >> i've only got 90 seconds but let's talk yahoo!. they're announcing a plan to buy back $2 billion in stock over the last three years with the proceeds from the alibaba ipo. the move comes as yahoo! spins off it's stake into separate company later this year. yahoo! owns 384 million alibaba shares worth about $32 billion. it's part of the effort to unlock value from the asian assets and return cash to

shareholders. this latest move could strengthen defense against the activist starboard value which took a position last year. she argued it diminished the company's value by overspending on acquisitions. they urged them to cut costs and spin off it's stake in yahoo! japan and buy back $4 billion in stock. today is the deadline for shareholders to submit nominees to the board making it the last day a proxy fight could be launched. starboard has the loudest voice in the two years since she became ceo and yahoo! struggled to reshape it's business in an age of mobile devices and social media. yahoo! has about $8 billion in cash and short-term securities. it would reduce the amount she could spend on big acquisitions. last year they spent $800

million to buy two companies, brightroll and flurry. shares are up about 2%. guys over to you. >> i actually made that 93 seconds. you were a little bit over but a wonderful hit as ever. >> that's the pot calling the kettle black. >> thank you very much as ever. >> let's stick with tech. amazon is reportedly in talks to buy luxury online retailer net-a-porter in the company's largest acquisition. a deal would value the site at $2.1 billion. it's owned they were looking at an indian firm taking a look at shares of amazon up about .6% in frankfurt. i would point out this is not the first time we have seen amazon look at the fashion space. it acquires my habit in 2011 and

2014 there were reports that amazon was in talks to buy this indian fashion retailer for $1.2 billion and clearly perhaps it has its eyes on net-a-porter and high end fashion and targets are young professionals. >> it's not an obvious fit for me because they rest on the individual delivery which of course amazon being so mass market doesn't really do but we'll see if it develops. >> it wants to penetrate that space. it sees it as value add and an interesting deal. we were just talking about drones and amazon and now amazon and fashion. it's becoming such a diverse company. >> indeed but not returning to shareholders like yahoo!. google will pay its new ceo more than $70 million over the next two years. the company hired her away from morgan stanley earlier this week. her conversation package includes $25 million in restricted stock, biennial grant of 40 million and a $5 million

cash signing bonus. pretty sweet. in may they'll get a basal ri of $650,000. she earned a base salary of 1 million at morgan stanley. >> apple ceo tim cook is joining the list of the very rich that plan to give away all of their money. cook plans to donate his estimated $785 million fortune to charity after he pays for his 10-year-old nephew's college education. cook says he started quitely giving money to unspecified causes and is trying to develop a more systematic approach to fill lanphilanthropy that goes beyond writing a check. >> we had seemingly dovish comments out of the bank of england but the next move in rates is likely up. it's inched sterling up as you can see but not too much in the last 20 minutes. it's still flat on the day.

1.4839. now as we head to break let's remind you of what the headlines are. oil back in the red shrugging off fighting in yemen. marissa mayer tries to appease shareholders with a $2 billion buy back and mystery crowds the germanwings crash. we'll be back in a couple of minutes.

welcome back. french prosecutors are desperately looking for a motive after revealing thursday they believe the co-pilot of the germanwing plane which crashed in the alps deliberately brought the plane down. officials say the pilot was alone in the cockpit when the plane crashed. let's get more to the story with

annetta live at headquaters. over to you. >> also in germany investigators have been searching the home and also at his parents side and they're reporting that they have found evidence for a psychological disorder while searching the home. he is also reporting he has been suffering seriously from a recent crisis in a relationship with his girlfriend and that the german aircraft authority has marked his record with sick which means he had to undergo more medical checks than others because he was diagnosed in 2009 having had a severe depression. you see looking at all of these speculations because it's not officially confirmed that might come back on them. the discussion is just starting

here in germany where they have really done everything they could to check whether this pilot is up for flying and fit for flying or whether they have not done what they should have done. with that back to you. >> thank you for that developing story we'll continue to keep our eye on. in the meantime let's take a look at u.s. futures. wild swings in the market. a lot of that having to do with a sell off in bio tech. the weakening in the dollar. dow jones down about 35 points. s&p 500 down about 4 in premarket trade. >> let's look at european markets as well. we had a weak couple of days here in europe but we bounced back this morning and europe was going to try and end roughly flat for the week but we're definitely going to end down now because in the last half an hour or so markets have turned downward as you can see and france has put me off on saying that but we're basically red

across the board. it hasn't been a great week for equities here in europe. let's also look at oil price because it hasn't been a good week for the oil price. particularly the last couple of days but because of the positive move we're correcting again today. wti 50.2. down 2.4%. brent 58.1. down 1.8%. that's following a move upwards yesterday. >> the price of oil back on the slide after those sharp gains following the launch of air strikes in yemen by a saudi-lead coalition. the military assault would have only a negligible impact on supply. yemen is a small crude exporter but sits on the bab el-mandeb straight. it struck an air force base five kilometers from the oil field.

hadley joins us on set. what does this move tell you? the air strike against the forces tell you about saudi arabia's foreign policy? it's one of the first foreign policy decisions made. >> it does indeed say something about how overt they're going to be in terms of using their military and this is not something we have seen from them in the past and of course the defense minister a young man, he's speaking to a senior member of the audi royal family here in london yesterday and telling me we have a lot of confidence in him. he's young but give him time. i think what's happened in the last couple of days they're closed today but what we saw on thursday is a serious confidence that it wasn't going to be a big problem. >> it's backed by such big powers in the region does this move on or the oil price corrected pretty quickly. >> it's interesting to see what the saudis have done in the last

24 hours. they made sure they secure the straight. that's a big cause for concern for them because most of their supplies go eastern but they do have a surprising amount that goes throughout the west coast of the country. it's quite important for them to keep that from closing and being a problem but at the same point what's happening in terms of what we have seen between iran and saudi arabia is fascinating to watch because of the momentum at which it's moving. >> we're looking at oil prices down about 2% in today's trade. thank you so much. that does it for us on worldwide exchange. be sure to watch squawk alley today as the blackberry ceo will be on the show at 11:00 a.m. eastern to discuss the latest earnings. >> i'll be off for the next couple of weeks. have a lovely weekend. thank you for watching. i'm wilfred frost. >> i'm seema mody. squawk box is next. have a great deal. have a great day.

good morning. wrapping up a wild week on wall street the tow flipping four days in a row. crude prices bouncing around on the unrest in the middle east and more is on the way. and mass murder in the alp. the investigation centering around the co-pilot as officials try to find out why he would deliberately crash the plane. and four more teams survive and advance to the elite 8 in another exciting night of ncaa action. there's more coming this evening. squawk box begins right now.

>> live from new york where business never sleeps this is squawk box. >> good morning and welcome to squawk box on cnbc. andrew is off today. our guest is the chief investment strategist. after several wild days of trading and a four day losing streak for the dow there will be more fed speak today. janet yellen will be giving a speech before the closing bell. get a check on the futures this morning and while the futures have not been a clear indication of where we have been headed for much of the week you can see this morning they're down about 41 points. we haven't seen something like this since last march. right now you see that the dow futures