welcome to "worldwide exchange." i'm carolyn rop and i'm louisea boyce and. >> chinese investors shrug off a sharp drop in exports, amid expectations that beijing will step in with stimulus. >> now the week dates however weighing on european a number of down grades across the sector. >> shift down a gear as the

porsche families stand at odds over ceo. >> and hillary clinton vows to champion everyday americans as she launches a presidential bid with a visit to iowa. ♪ good morning, everyone. it's monday morning. how are you? >> i know. what a fantastic week. it's nice to be back. fresh rejuvenated. >> it was not really good for chinese exports. they dropped 15%. >> the masstive drop it really causes a lot of people this morning to question once again the strength of this huge economy whether or not we're going to have to see a slowdown coming from asia. i'm not so sure. >> we know that chinese data is very erratic, it tends to be extremely volatile. for the first two months of the year chinese exports were up

15%. we're now seeing this big draw down? is it because of the chinese lunar holiday, we don't know. what we've seen these triple arcogs. we're seeing chinese markets rallying today in anticipation of more stimulus. what difference is that going to make? >> i don't know is the answer. however t might be an element of time. you need to have the stimulus feed through. you need to have it properly go into the real chinese economy. we have the growth of 6% the discussion continues, it's still a lot more than what we're seeing in the west that's one of saving graces at the moment. we're talking a lot more about china here throughout the show today. chinese markets though as carolyn was just saying shrugging off this sharp slowdown in the country's exports. there are hopes we could be looking at more stimulus the

bboc thought to be moving in that direction. exports splumping by 15% in march. world bank is lowering its forecast for chinese growth. we're shand by eunice in beijing. how worry should we be about this bleep we're seeing in the data? >> i think there are a lot of people who are worried about this data because normally this time of year we do see a surge in factory activity because the lunar holiday is over. there are plenty of distortions in the first two months of the year but things start to settle down a bit. that's one of the reasons why. a lot of analysts believe we're going to see a pick up about 10% or so for this month. that was one of the reasons why investors were taken by surprise and in combination the export figures not looking very good.

also the import figures fell as well and that was suggesting to many here that the demand for chinese goods really isn't holding up in the way that they thought. it's not only here at home but also overseas so there have been plenty of questions today as to what the growth is really going to look like and we have the first quarter numbers coming out on wednesday and most people had expected to see a growth you know holden at about 7% or so. now there's a lot of discussion about how you might not really meet that and that also just raising a lot of questions again just what the government is going to have to do about it. the world bank also has you had alluded to had cut its forecast for the year to now 7.1%. a lot of that is because of their concerns about the vulnerabilities in the financial industry and china's overall policies to maintain what they call sustainable growth.

>> thank you so much for that. let's have a look at the reaction in the markets here in the u.k. basic resources under pressure on the back of disappointing trade data. down grades by citi group which was mining sector. glencore also falling by 0.4%. it seems prices falling to $40 a ton in 2016. that is quite a steep drop. that's already fallen by 60% in one year. let's cross over to japan. the nikkei has also dismissed flat data. capital spending fell for the second straight month. that number did beat forecasts. speaking after the japan data was released the governor said the country's economy was

recovering moderately and the scri would maintain his stimulus program as long as needed to hit its inflation market. head to our website, cnbc.com for all the details. you can get in touch with us i was tweeting a good morning to us all. you can get in touch either on email world wide at cnbc.com. it's on screen for you now. you can find us at twitter. >> let's have a look at the markets roughly one hour into the trading session. the stocks here up 600. index off its session throw. we were somewhat weaker first thing this morning and but now we're at the break-even level. we closed out last week for record highs. we saw multi-year highs for some of the other indices as investors continue to buy european equities as a result of the ecb qe.

that's fallen a little bit. let's have a look at the chips one by one. the dax this morning is flat. a little bit of pressure. we are seeing some green. in the currency markets, we are still seeing dollar strength coming through but it's a little bit more muted compared to what we saw on friday. the dollar somewhat higher against the yen and we're seeing a touch higher against the euro as well. that has 105.62 over the last week. the dollar was high.3%. the you're owe dollar that fell a whopping 3 1/2%. let's see what the aussie dollar. . in the commodity markets, we are seeing prices higher by 2.6%

despite the fact that we're seeing some dollar strengths today. last week brent was higher by 3.5%. i guess this is the market scaling back their expectations for when iranian oil will actually come back to the markets. lots to talk about this morning. we're very lucky to be in the good company of stephen mclo smith. good morning, stephen. >> good morning. >> fresh start to the week. fresh data. fresh issues to talk about. old issues to talk about. like groes for an example. what's your view of the world in general at jp morgan. >> we still feel constructive about equity markets. europe in particular. the one thing you can absolutely guarantee is that the european market doesn't really carry on its rising trajectory.

there's enough good news coming out of economy to give one faith to buy on any debts that occur and still comfortable for holding on. >> the rate of change in southern europe is improving. if you look at the news coming out of spain, that's been one of the stronger economies in the last 12 months. pmis are indicating expansion. credit numbers in spain are starting to look very attractive. unemployment is coming down. consumer confidence is rising. this is not just a story about a comparison to northern and southern europe. >> year-to-date, the spanish market quite a bit behind only 12%, compared to where we've seen elsewhere. >> when you were investing in european equities, you have to think of a global picture. when you think about spain as an

example, one of the best sales, 30% of sales. you have to look more generally at what are the indicators telling you about the direction of the economy as a whole. i think if you come back to the conversation we had about a month ago, we were talking about credit picture changing very significantly. and that continues. so the indication there is that demand for credit is picking up. credit is starting to loosening, the credit stimulus is having an effect. that's going to benefit not only the banking sector but also the households and corporates are able to borrow at attractive rate. >> stephen, you say this is a second u car sea change. i question that. much of the improvement we've seen all of that is predicted on ecb hem. help. whether it's qe whether it's credit measures that's been

introduced what would the european economy and stock market look like if it weren't for the ecb? >> i take issue with that. i think the change in equities has clearly been helped by the qe packet. if you looked last year what was going on with the european economy, last five years, there's been two credit crunches. you had the credit charge in '08-'09, which was global and in 12 you had a similar withdrawal from the banking system. that was a necessary prelude and a much easier credit background for banks in a sense that bank could be trusted to lend that they were adequately capitalized but we're now seeing the benefits for that. >> stephen, you are hear with us here the first hour of the show. get in touch, find us at email,

world wild on cnbc.com or twitter. carolyn@cnbc. >> i forget everybody's twitter handles including my own. moving on we were talking briefly about greece how we still need to chot more what's going on there because international creditors are angry. they are going to be continuing technical work there in athens and brussels. they are working on a debt deal. >> it comes as greece's finance ministry has dismissed a report that you're ozone officials were shocked. the report says a greek representative atlas week's talks asked where the money was at like a taxi driver. >> as a taxi driver what does that mean. >> sna a greek taxi driver or

german taxi driver? i don't know if there's a difference. >> is there a difference? coming up here on the show markets, will they end it in the gren while jordan spieth ended on the green. we take a look when the 20-year-old texan went wire-to-wire to win the mat sters. >>. and mark zuckerberg wants the world to be connected. find out how president obama plans to do that later on in the show. it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated responsive support.

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hi everybody, welcome back. you are still watching "worldwide exchange." we're getting some flashes through on the wires from germany, they are confirming their 2015 targets of organic sales growing of 3 to 5% and an adjusted margin being confirmed at 16%. shares reacting massively flat. they are going to be staying in russia and ukraine despite the continuing challenging environment there and the ceo saying they are going to be looking at considerable financial head room for further acquisition. that's a possibility for this german group. now, some top stocks to look at today, carolyn.

>> one of them is easyjet, shares by 1.6%. and andrew finley jumps from 4 to .716%. stewart bridges is leaving the london listed end insurance firm. and this is the story that made all the headlines over the weekend, he's lost confidence in the groups ceo martin winterkorn. it appears he's alone in his views. we'll have more on that story in just about 30 minutes times. so do hang around for that. and staying with the german markets, our we the utility done by .64%.

a letter hads been sent to workers to cut administrative costs. let's go out and get all the details from frankfurt. does that also mean job cuts? >> that's not clarified yet whether this means also more job cuts, but the attitude of the cost-cutting program is quite big. for now they are planning on saving roughly 1 1/2 billion euros until 2017 and the new number is inside rwe is $2 billion. that's quite a huge number. so that means is roughly 30% of savings in individual units you were mentioning, administrative costs, but also other units will

be affected. that most likely will not be possible without job costs, so what they are saying that the current outlook for the industry shows that the current cost-cutting program is not enough to put the company on reliable feet. looking at the state of the industry the industry in this power plants are not really profitable here in germany because the government even though it was one of their biggest pledges when they formed the new government in 2013 has not managed to implement new energy policy in germany so far. with that back to you. >> good seeing you this morning. thank you very much. we'll talk soon again. a key fed official is saying that there's less risk now than an unexpected setback could derail the u.s. recovery once

the fed starts raising rates. reuters has been told that the central bank is looking at charting a normal path. to get his message across he's handing out t-shirts with an arrow bussing out of a computer. kind of like it's the economy, stupid. what would you put on a t-shirt? >> it depends on if i'm talking about the world economy something like kiwi anyone or remember the slowingen, milk anyone or got milk got kiwi? i should work in advertising. >> i know. i think that's brilliant. i think mine would be super simple like i love bernanke and on the back it would be say bernanke who?

>> a t-shirt? >> i would go with -- >> got euro. >> got yellen. >> on the back i've got -- anyway. what would you put on a t-shirt? a slogan to describe the world economy? if you want to join the conversation on "worldwide exchange" get in touch with us by email, world wide@c nns is on screen you. you can find it on twister -- twitter. >> the bank of england has defended governor mark harney that why he's so-called non-dom he's not averting tax status. the boe says carney has not structured his affairs in order to avoid tax. >> the u.k.'s opposition labor

party will unveil their fan test toe -- manifesto for the upcoming general election. leader ed millibant will be presenting the strategy. catherine is in manchester. the labor party looking awfully set to launch their manifesto. what do you think we're going to hear? >> reporter: well i should probably clarify it before i start talking about what he's going to say. just in case you think i'm already heading to the pub, where i'm actually am is on the old set of one of the u.k.'s best known soap opera's corps nation street. the u.k. politics looks ever more like a big soap opera with

people fighting. no i've made these pledges. today what we're look -- likely to hear he's going to be saying they are going to introduce a budget responsibility law. they are going to be responsible for spending. continue to cut the deficit. that's not traditional labor party politics and mr. milliban is open to quite a lot of attack on this front. he was working at the treasury during the previous labor party administration, had during which the conservative would say the deficit ballooned. let's not forget, louisa this election is too close to call which is quite worrying for a lot of people on the markets at the moment. if you look at sterling and look at what's happening with the wealthier people in the u.k. particularly those affected by

the mark carney the non-dom, and no less than four weeks to go. >> i've always wondered carolyn, what -- kathryn, i've always wondered what coronation street is about and having lived here for some 15 years or so -- >> you've never watched it. >> i can't really follow it. they never move ahead in their story lines. sts the same things happening all the time. maybe it's like politics. >> a lot of coronation street does seem to be based on is that kind of tradition of hard working, working class british families and those are the kind of people, i suppose, ed milliabn is trying to appeal to. the labor party is very worried

about these northern constituencies up near manchester where i am. >> thank you very much for that. i want to do a dramatic over to you. that's how they do it in the soap operas. there's lots of silence and looking out windows. >> we'll talk a lot more about politics. still to come on the show, hillary clinton announces that she will run for president using social media. she will now head to iowa in a van she calls scooby. stephen, what do you make of the u.k. economy at the moment? and what do you make of the choice that business has in the u.k. to either choose to go with labor or some policies that some say are quite of anti-business or to go with conservatives where we're going to have a referendum which might be uncertain for u.k. business as well? >> u.k. economy is doing fine at the moment. both of the numbers were

residesed numbers, so the economic recovery is intact and clearly in place. unfortunately, well, fortunately, or unfortunately, business doesn't get a vote so this is down to people. and it's extremely mixed and quite clear that not only are the s & p 500 is a threat. the joempleing conclusion you reach is that at the moment neither party is going to get an overall majority so the launch of the manifesto i get is going to be very important in trying to gauge the overall direction where the campaign is going to take both parties in the on coming weeks. >> is there any reason to be positive on u.k. equities right now? >> i think in the short term one has to be slightly cautious simply because you've got the elect shouldn't is coming up.

i think that the other point to make here is that with energy and materials, they both suffered a lot in the last six months, and you're starting to see value in that and i think the news last week of the gas deal is inl credibly important, what it's telling you is that industry is finding those assets cheap even if investors don't yet. i wouldn't give up on it yet. >> thank you very much for your time. still to come here on "worldwide exchange." oil and gas stocks they have been hit by the downward trend in gas and oils. we'll talk more about that and what these findings entail just after this.

there's no stopping the rally in china investors shrug off a sharp drop in exports amid expectations that beijing will further step in with further stimulus. >> the weak data however weighing on european equities. mining stocks in particular feeling most of the pressure due to a number of down grades seen scroos the sector. >> and the porsche and another auto maker stands at odds over ceo. >> and hillary clinton vows to

represent everyday americans as she heads to iowa. >> this is great. we were asking you to email through, to tweet through your slogans what you would put on a t-shirt. we'll read out some of your slogan ideas later on in the show. there's some great suggestions. i'll have a t-shirt of that please. european markets if you are just joining us good morning everybody. this is what we're seeing so far. we're a little bit lower on most of our european markets at the moment. we've just turn a little bit negative in the last half aan ahour by trade. ftse is down and along with the dax, and the asian markets, we saw chinese equities touching a new seven-year high and the overnight session, despite this very soft export data down almost 15% from march year on year. we were expecting a rise of 12%.

down by 14 to is a% in march as opposed to this rise of 12%. we're seeing continue dollar strength this morning continuing on from the 3% gains we saw for the dollar index last week. eur-dollar 10559. and much of this down to the jitters around the upcoming elections and i wish we had the aussie dollar and the kiwi dollar down. let's have a look at the oil markets as well. we're higher for brent and wti. brent up by 2.35%. wti at 52.78 higher.

traders cover their short positions after we saw that gain in crude. >> hillary clinton has officially joined the race for the white house in 2016. she launched her campaign on sunday with a message on twitter and this ad on youtube. she's posting photos from the road including this one here on twitter. road trip road to the van. met a great family. it's quite a -- quite a big thing now what's happening now, and very much kind of about equality for your average american that's what she's championing. >> i guess it's less about her and a lot more about the message because when she kband back in 2008 i think the focus on her personality, that didn't really work for a lot of voters and then she had president obama to contend with and he was a very very strong speaker.

>> nbc's tracy's ponce joins us from washington. tracy, we got hillary clinton's announcement. what happens now? >> well, now she heads to iowa. she's in a van driven by the secret service. as you showed in that photo, meeting people along the way. she's supposed to get there sometime today and she's got two days of events round tables with students and educators and local officials. her campaign says that they are really going small and going local on this first trip. iowa is key for hillary clinton. as you just noted, she lost it to president obama and frankly in one of the latest big polls she's within one point of losing iowa to rand paul who also just announced in the republican field. iowa is going to be key for her. she wants to focus small, on local issues. she wants to be in photos like that one you just saw with families as opposed to sort of big rallies that focus on her. she wants the image to really focus on others. her opponents are already

pouncing. ted cruz, jeb bush rand paul are out with ads against her. >> thank you for being with us. moving back to the markets, despite the falling price of crude, total dividends from ftse oil and gas companies will rise by 9% in 2015 that's according to new research. and here to talk more about it is ryan brinsfield. good morning. >> good morning. >> what's the trend? we're going to see more dividend payouts? >> we're seeing largely flat dividend payouts. they are getting a boost from the stronger dollar which you are just mentioning. 40% of the total pay out in u.k. companies comes from u.s. dollar reporting companies. so it's a critical factor and accounts for a big portion of that growth. you mentioned bp 11% payout and

schell is to raise their dividend too. >> yes, they have got to flatten their payments both bp and shell. >> are you now thinking that the shell-bg deal would endanger the dividend. >> there has somebody some concerns. that's been given as a reason for the decrease in the share price. they also have announced plans for $25 billion share buyback program. >> let's talk about some of the other sectors, utility providers, shouldn't we expect a cut in dividend payments if actually labor comes into power, we'll see a freeze in energy prices. there's a lot attached to their dividend payments. >> it is. elections make it very interesting. a lot of investors are have traditionally relied on utility

stocks. we've also seen cuts from sn trxt ica. >> and banks, we're actually expecting a big rise in dividends, so this is a big turn around from the very very dire years of the financial crisis. we're seeing lloyd's is back to returning cash to their shareholders, hspc, barclay's are they expected to raise their as to? >> modest increases. i think they are likely to take a conservative view but they are getting a boost -- the overall level gets a boost again from hspc u.s. dollar payment and the return of lloyd's. >> what's the biggest risk to dividend payout? is it squarely in the sole in

the corner of the currencies? >> the currency has a big impact on the overall return and the total return however, one thing that people really need to watch out for is this concentration risk. this is affected by the proposed deal with shell and pg. and there's a big concentration in the u.k. and globally on big oil. the oil and gas resector account for 25% of the total projected payout. >> is there difference in the payouts we're seeing stateside versus europe for example? >> in the u.s. there's been more of a focus on shareholder returns and returning cash to shareholders. there's been talk about fear willingness to invest and shareholders are not willing to let companies sit on large cash balances indefinitely. >> in the u.k. what's the dividend yield, 2 or 3%? >> the projected is 3%. >> that's a really good yield in a low-yield environment, if you

go into government bonds you go zero or negative in fact. 3% is pretty good. that should be priced in into equities shouldn't it for europe philippine equities we're also seeing a dividend yield of closer do 3%. a lot of money has been piling into dividend based ets. that's not a new story. valuationwise, does it still make sense to go into these equities? >> it's been a very interesting time. you are right in saying the low yield environment has prompted a lot of people to seek income from equities. there has been significant fund flows into dividends and so on like you are saying. you have to account for the risk factor so part of the yield is compromised of the risk. i think what's been a very interesting development in recent years is the emergence on products and exchanges that are dividend specific. investors can trade independent of the share. >> very interesting report. thank you so much for bringing

us today. do continue to send in your suggestions around what you would put on a t-shirt if you were talking about the global economy. what have you got? >> loads of you writing through loads. just taking it from an end, we have always used a nondom! that's quite clever. at mtc lop done writes on borrowed time. >> i've got juan saying risk on. off is over or lost in transition. that's not bad. gold? what is it good for? >> i like it. i like it. linda writes in and says fed up move my bank rates. >> that's my favorite. >> very clever. lots of you. lots of you writing through. t-shirt? i have it already.

we live in a world that's been pulled over our eyes. that's true too, but there are lots of clever -- this is my stimulus package. my goodness. >> i don't want it to know about that. >> actually shree writes in and he says if it moves, funk it. maybe, i just i love greece. >> maybe not. >> any way keep your emails coming through. what type of slogan would you put on a t-shirt that has to do with the economy. you can find us on twitter at carolyn carolyn cnbc. a family feud erupts over the top job at europe's top auto maker. we'll tell you what's going on. stay with us.

welcome back. pressure mounts on the brazilian president as protesters took to the streets in more than 100 cities across the country. out with dilma. although the hundreds of thousands of demonstrators fell shy of the estimated one million

people who came out in march. a new poll shows that many support the protests. rousseff has been struggleding. the world's largest trades fair for industrial goods was officially opened by the indian prime minister and the german chancellor. india this year's for the partner country. modi outlined india's willingness to reform and increase free trade. leadership crisis is in full swing at europe's largest car maker. on friday the chairman said he was distancing himself from the europe's ceo who has been head the vw since 2007. piech appears to be isolated.

they will meet in the coming days. let's get more details on this. i would think very convoluted story. what's going on here? >> it's a very interesting story. there are a lot of different elements going on here. one of course is the family feud we've seen starting to emerge and we saw piech coming out on friday staying i'm going to distance myself from winterkorn. which is surprising. he saw him taking over audi before he brought him on as ceo. they have become at odds because winterkorn has assumed more power and piech wants control of the day-to-day business. the other factor would he have seen is his cousin that's the porsche chairman he said this is not a family policy he did not consult with the family. it's not just the rif with his

cousin. also the labor union leader and the government has come into support of wint wint wint wint winterkorn winterkorn. there's been a lot of speculation over who his successor might be up until now, the assumption has been he would take over for piech. so the factor that piech came out so strongly against winterkorn like he did. >> could it back fire? what's the real crux of the criticism against winterkorn? >> absolutely. it could back fire piech and the porsche families they have five or six on the supervisory board, and they are in the minority against saxony and the

workers. we also saw feuding during the vw porsche takeover. one other issue at stake is there was some speculation he might appoint his own wife to be chairman when he steps down. he's now saying that's not going to happen as you mentioned, he doesn't want to be putting himself against the rest of the supervisory board. >> recently we spoke to him. >> what is the gripe? a lot of people point to the disappointing recovery for that vw brand in the u.s. market and winterkorn was asked whether he was disappointed with the performance. let's take a look. >> translator: yes, we did procrastinate and wait too long. of course near small end we had to close a factory and we were

reticent and we're going into the offensive in the states. >> nancy, thank you very much for laying out the land for us in regards to what's going on. >> as i said they are meant to meet in the next few days. we'll seeing how that goes. >> it's very heated now. here to talk more about what the story is all about mike tinkle is an auto analysts from bark clays. what do you make of this? >> i'm not going to profess anything that goes beyond what says in the papers. it seems a logical discussion for this to happen. winterkorn's contract expires next year. future tracks program which is their five billion car saving program points to a very high level of complexity and things needing to change. so it seems to me at least to be a healthy discussion. the unfortunate part is it's

happening in the public domain. >> how do you see vw compared to competitors out there currently in the european auto market that still in the recovery stage? >> i guess it's mixed. we've got an equal weight recommendation. on the one hand the products that they have appear to be superior to competitors when we look at various surveys. their market share is far above everyone else. their selling prices appear to be above everyone else their margins in the vw brand tend to be quite low. so it feels like they have all the tools in their arsenal but they are not necessarily getting the most value of them at this point. >> but you actually think vw has the right strategy in the u.s. do you think that this management in fighting could derail that strategy? >> i think that's the problem. if this fighting goes on for too long, not only will it demotivate workers but it will perhaps interfere with strategy in terms of decision making

what we would hope for is we see a speedy resolution. in terms of the u.s. i think as professor dr. winterkorn said part of the problem is they did procrastinate. they should have had maybe two more cars by this stage, so they missed two of the booming segments which were the small crossover segments. they don't have a product. they will next year but the growth that we've seen in those segments has pretty much passed vw by. >> can we talk to you about valuations in the auto sector because they seem to be at dizzying heights? we've got a 50% rally sips october. we've got the low euro the low oil prices continued low interest rates. do you think that sector is too pricey right now? >> not really. i mean you kind of pointed out the reason why the sector hars gone up. you've got the currency -- if you were looking at the start of the year to buy something that had cyclical exposure in europe

and was annex porter auto is clearly the number one choice. earnings they have gone up at the same time. the discount is pretty much in line with where it's been in the last 12 months. and the good news is that when you look at car sales, certainly in europe they appear to be running ahead of what people were expecting. >> there are a number of weaknesses and caveats, such as weakness in brazil and china, do you think that we've hit the trough there? do you think that had been priced in? >> two questions there really. brazil, have we hit the trough i was listening to your news beforehand riots in the street no i don't think we have in brazil. clearly there are some big question marks around economic growth in brazil and autos is clearly one of the affected sectors. china, we've always had a fairly san gien view. we think maybe we see a

progression, very comfortable that china will continue to grow. less comfortable about where brazil is heading to. >> thank you so much for your time. mike continue -- tyndall. >> be mark zuckerberg asked the president about connecting the world via the internet. >> what have you learned from making this a priority in terms of the lessons that you've picked up from all the work that you've done and what more can we be doing together to make sure that everyone in the world can be connected? >> the internet qont have been created without government investment. it didn't bring to life on its own, but now that in every country we recognize there's an infrastructure that has to be built, we also have to be working together with private sector to make sure that it's built-in a way that anticipates

how rapidly things are changing. >> and again eth paltrow says she's taking on the new york food challenge. the actress accepted the challenge from celebrity chef mario batali to try to get by on $29 worth of food a week. she faced criticism for posting a foot. a couple of eggs some leaks, spring yons. >> it's very healthy. people criticizing her saying she's trying to act all noble doing the food stamp challenge. most women on food stamps they are also trying to feed a family. the list goes on. she's highlighting awareness about how little it is $29 per week to feed an entire family especially if it's healthy as

well. >> healthy food is more expensive. >> it's more you would use -- a lot of that could be used quite quickly. it's a couple of salads for example and some might argument you need some starch in there to make it last longer. >> get some potatoes. >> some potatoes some rice pasta. it is drawing awareness to the difficulties that people face when trieding to feed a family on a very small budget. you can head on line. you can find more on that. on top of that hillary clinton twitter's actions taking the spotlights this weekend. other tweets did not go unnoticed. donald trump answered a very public spat on the networks. insults were traded about their companies and about their hair. i'll serve all customers in the usa openly but i will obviously leave your hotel right away based on this.

that was john legere telling donald trump that. >> do we have a picture of his hair? it's quite a good look. i'm sure it's closer to 80s or 90s? >> hair is hair. >> he wears it so conveniencely -- convincingly. there you go. very subjectively. >> very they are fighting over importanting things jordan spieth, looking good in green today. the texas native shot 18 under par. ties tiger woods in 1997. they never got within three shots of spieth in the final round. he's the second youngest to win the green jacket at augusta behind tiger woods. he's also the first to go from wire-to-wire leading from start

to finish since '76. >> did you watch it? >> no i did not. >> you did? are you kidding me? i think on friday you didn't know a lot about golf? >> i know lots and lots. find us on twitter, especially if it's about the economy. you can tell us what you would put on a t-shirt, the slogans, some of you still coming through. i think mine might be quantitative pleasing. i. >> futures pointing to a lower across the board. s & p 500 down by 4 points. doudges set to fall by 28 points. we'll be bab in 2.

xxx

. hi everybody. welcome. you are watching european -- "worldwide exchange." >> these are your headlines from around the world. >> it is official. hillary clinton vows to champion everyday americans as she launches her presidential bid in a van with a visit to iowa. >> u.s. futures point lower as a positive week on wall street. this as tiny stocks continue to march higher on stimulus hopes. john williams says the central bank is plotting a path

to rate normalization. and shares shift down a gear as the porsche families stand at odds over ceo martin winterkorn. welcome, everybody. good morning. >> good morning. >> we're just starting out in the second quarter, right, and we're heading into the summer lull period supposedly right. you think it will happen this year? >> it's very hard to say. let's get through earning season first. we're not in may yet. we're only in april. we've got financial erks this week. they are not expected to be that bad because the trading volumes they have picked up a little bit. volatility was higher. that benefits the banking stocks and they are expected to do somewhat better in terms of their earning. for the rest of the s & p 500 companies, everyone out there,

they are expecting a 4 to 5% decliep in earnings year on year, we might be even looking at an earnings recession that's quite fascinating that given that the economy overall, yes, it may be a little bit of a soft patch, we're not a recession for the economy, how can the earnings recession be a reality approximate when the economy over all is doing a bit better a lot of is down to the dollar. >> maybe we're getting a little bit ahead of ourselves at the end of last year on the size that we're seeing all the fueled optimism on the expectations of the outlooks. they are more in check and on top of that oil has definitely led to that boost and now we're seeing oil mitigating a bit and i still question inflation asle with. nothing has really change with the inflation picture over the last month, two months three months. we're not talking about whether we're entering in this deflationary spiral as we were a few months ago. that left the table. >> let's take a look at u.s.

futures, we are expecting a softer start to the trading session. s & p 500 see by 3 a half%. and doudges dow jones 28%. ge shares hi by 10% on friday after selling bulk on returning up to $90 million to shareholders. let's show you european markets as well. we did wobble a little bit out of the trading session. the china data that's putting some pressure on some of the mining stocks we also had a number of down grades through. that's why the fss -- ftse is under performing. a similar story for the zetra dax. we hit a record high fofer those as well. well, carolyn, when looking at

some other cross rates, we're talking about the euro dollar we're looking currently at a euro dollar down .4 of a percentage point. we're down 105.56. the dollar against the yen higher by half percent. you got the aussie dollar lower by 1.5% on the back of that chinese data a lot weaker than we've anticipated down by 14% in march. and the pound against the greenback off by .2%. the come identities you've got silver and gold off a little bit. gold just below the 1,200 mark that we otherwise have been hanging on to. brent higher by almost 2% and wti crude up. p i was looking at some of these oil stats, on one hand you got a

slowdown on u.s. drilling on the other hand you've still got this warning that functions remain weak. traders have been strike options for hire. you've got volumes also seen $for $100 per barrel per options. do bear that in mind. checking in on markets in asia. shree is in singapore. i like your it. shirt suggestion first of all. we've been asking for viewers to write in in. yours was pretty good. if it moves, funk it? >> let's move on there and my soul boy days and talk about these markets. mainland china, the idea was more stimulus by the pboc. having said that i think ths one month's number. the external figure was pretty abysmal.

we saw contraction in export growth of 15%. down in march compared to the prior period in the previous year. and then we have this incredible shrinking trade surplus for the month of march. just over $3 billion. compare that with the record figure of 60.6 billion in the prior month of february. something is seriously wrong here in this data set. i wouldn't just take it with a pinch of salt. i would take it with a siberian salt mine. these numbers are still going to be colored and distorted mind you from the lunar new year holiday. you can say that for the first quarter. remember these are the march figures. hopefully we should get a cleaner read in april. if april numbers do continue to tell us that export growth especially is subpar then it's conceivable that the authorities may try to devalue the currency. a lot of exporters have been saying they have been having a tough time because of the

relatively chinese basket of currencies. here and now, the markets are looking at this poor economic data as building the case for more stimulus. that's what the markets in greater china and the handing sang are front running today. >> let's get to that investment strategy. matthew, good morning to you. let's kick off with u.s. earnings first. do you think it's the usual where managers massively down the expectations of earnings and only to beat them? >> i think it's right to be slightly skeptical that some of that is going on. i think we have to take into consideration not just the weather which has been very impactful, especially the east coast of north america in march but as we discussed currency. what's so difficult with currency when we talk in the

aggregate, currency affects each individual company differently. every company has a different set of geographical exposures, and every company hedges or buys forward at a different rate. it's very hard to take one company and to necessarily draw that across and make inference about other countries. there's that element of uncertainty that we need to be aware of. >> aren't these companies hedging their u.s. dollar exposure. >> some are and some aren't. this is the challenge. i think it's very hard to have a long-term view about currency. if your business is not necessarily going to be overly impacted on a consistent basis by those currency movements. some companies do things such as have debts in the local currency which they are exposed to to try to offset that potential risk. i think it's very hard to do systemically and make statements as investors that will affect every company in the same way. >> matthew, i just want to know what do you buy and what do you sell? >> i think it's increasingly tough to make the buy arguments

in a number of stocks a number of sectors, indeed some regions. as investors globally you you can't help but notice the very strong moves across asia china, japan has been wonderful. >> we've had these massive moves in japan. u.s. as well. if you shift down you go long europe and take profits elsewhere? >> we've been very exposed to europe and japan. they still remain markets that we are more exposed to than say north america or parts of asia. from here there are some sectors that are increasingly becoming off rims. japan and some of the discretionary limits. >> everything you've just said to us is the consensus view. isn't positioning in these

consensus views, isn't that getting a little bit excessive. >> that's interesting had we had this conversation three months ago, i would have stood out like a sore thumb in talking about europe and japan. i've gone through three months of the data. it's been less robust. there's been evidence of a change of turn in europe and japan. these things can change very quickly. >> matthew, you are with us for the second part of the show. we're happy to have you on set with us. keep your emails coming through and your suggestions of slogans with regards to the economy. great suggestions here. we've gone anthony. says quantitative easing, it's snow you never know how much you'll get? >> quantitative teasing. >> my suggestion was quantitative pleasing. i like this one as well. jeff says euro or gyro which

one is more value. do you know what that is it's like body movements, you sit on this plank thing and you stretch. people who do this every day. it's about longevity and movement. so what would you rather have? money or health? >> always health. always. >> i toelings agree. a key fed official says there's less risk now that an unexpected setback could affect the u.s. recovery. they are focusing on charting an appropriate path to raise rates. to get his message across he's head -- handing out of t-shirts. it has arrows with busting out of a computer. >> maybe they are getting tired of the markets and us the media

watching every word. that's probably why. let's take a look at today's other top stories. hillary clinton has officially joined the race for the white house in 2016. she launched her campaign on sunday with a message on twitter and this ad posted on youtube. clinton is promising to serve as a champion of everyday americans. her campaign says she won't hold her first real rally until next month but clinton is already off to a trip to iowa. she's posting photos on the road. road trip loaded the van and set off for iowa. met a great family when we stopped this afternoon. many more to come. and her tweets they are very popular. i think she got around 90,000 retreats for her announcement that she's going to run. i believe 500,000 likes on facebook. >> wow. >> very popular. >> i had like one retreat. >> the race for the republican

presidential nomination is due to get a bit more crowded today. marco rubio will announce his intentions at an event in miami this evening. he could be join ted cruz rand paul. new jersey governor chris christie says he will make his decision by late summer. >> yahoo manager is giving a shake up. we'll find out who is up down and who is out. coming up after this short break. [clicking sounds] it's so shiny. i know mommy. but it's time to let the new kitchen

get some sleep. if you want to choose wisely choose angie's list. with in-depth reviews, an exclusive scoring system and real people standing by to help, you can get a finished project that you'll love. pretty. call, click or download the app for free today.

and these are the headlines. hillary clinton officially hits the campaign trail as republican senator mark row rubio gets set to join the race. chinese equity push even higher on stimulus hopes. san francisco fed president don williams sees less risk of an unexpected setback once the central bank starts rate hikes. welcome back everyone. marissa myers reportedly is shaking up yahoo's management ranks. david carp is getting a demotion. instead of reporting to meyer,

his new boss is now simon calif who join yahoo last year. oversee yoo-hoo's home page. mike concerns is leaving the company. so that news is worth noting with regards to some of these changes happening within yahoo. leadership crisis appears to be in full swing at europe's largest car maker. chairman piech said he has lost confidence with martin winterkorn. let's get more details on the story with nancy. very convoluted story. what is the problem that mr. piech has with the ceo, winterkorn? >> it's a very good question. in that interview, mr. piech said i'm distancing myself.

very few details. wasn't clear exactly what he was on odds with mr. winterkorn on but the assumption is the costs. vw has been extremely successful in really boosting their volume. we saw record sales last year but the costs continue to increase and people are very concerned about that. they are also concerned about slow investment into the united states and people that haven't seen growth of that name sake in that vw brand in the u.s. market. as we know winterkorn is getting to the end of his tenure. his contract expires at 2016. there's been quite a bit speculation what happens next. who may take over. on the other side a lot of speculation he could stay beyond 2016 and if he doesn't, the initial thinking he would take over from piech when he was expected to step oun. it's a really interesting element is how we've seen the

revolt since those were made. his own cousin said this is not the family policy. he's saying he did not consult us. he's very much out on his own in this stance and then of course we saw the labor leader and lower saxeny saying we fully support winterkorn. >> why would he do that? if he really has this problem with winterkorn, why wouldn't he first go get additional backing or seek approval for making these comments? now, around you throwing the company into maybe unneeded questioning. >> absolutely. it's not good p.r. it looks like the company is at odds. at the same time, i think people like to see the supervisory board is taking an aimpressive stance looking at future options. it is very curious that he didn't first go to wolfgang porsche or the other members of

the board to say this is where i'm going. i need your support. >> it's interesting. he has pulled that stunt before hasn't he? >> yes. absolutely. back in 2006 with the previous vw ceo, he came out and said that his future is very open. a few months after that winterkorn was taking over. who knows, it could go that same way but given the make of the supervisory board, we have lower sax onny and the labor workers have the mamt of the suits. we have more information. >> it's all playing out in the media. thank you so much for that nancy. bg group, it gets another upgrade as analysts as they continue to digest the megamerger with shell. we drill down into the tie-up after the break.

good morning, everyone. let's have a look at oil prices. a fairly bullish start to the trading day for the brent and wti. it seems though traders covering their short positions after brent rose 5.3% last week. obama administration is planning to impose a major new regulation on off shore oil and

gas drilling. "the new york times" reports the announcements which could come today. it aims to prevent the type of explosions that called the bp oil explosion in the gulf of mexico. it would arrive on the anniversary. more analysts move to gb group. investec has raised its price. shell is expected to raise its top spot. that's according to the data company market that we spoken to earlier. i want to get back to matthew beesley. you are very much in favor of that deal. but when the deal came out, a lot of people were wondering, is this a deal that only works in an environment where oil prices are going up or does it also work in one where we stay steady

or we seeven see a drop in oil prices? >> i think through strategic eyes and financial eyes strategic, this deal made absolutely sense. it gives them the lift and growing that they need and want. financially, i think the jury has to be out. with the oil price hovering at $60. for it to be a brilliant deal, we think the oil price needs to be consistently higher. to really judge it in its total, we have to wait for some time to pass. >> this hasn't made a difference to whether or not i should be investing in ftse oil and gas companies. >> you have to be aware that it's dominated by the oil and gas sector. when you add the two together 25% of all the ftse oil share income comes from these two

sectors. these are two cyclical seconders. a quarter of that income is quite silly kal. there are lots of reserves in this company. shell is exactly the same. a high yielder and we scope to maintain that dividend but in the extended down term for this secretary, we have to be aware that that dividend could be at risk. >> according to the reuters data, you've more and more people pricing in the notion that oil could be heading higher. >> we've gone through a period where everyone has been talking all down. people become very concerned about the second quarter. they are worried about storage, on shore storage in the u.s. is supposedly full. there's also off shore floating storming as well. we know that's topping out too. a lot of investors are worried about a glut of oil before we

get some upside based on the year. >> good seeing you. thank you very much. matthew beesley head of global energy. hillary clinton officially heading to the campaign trail. we cross to washington, d.c. for the latest on the 2016 race. we'll leave you with a look at the futures how they are trading. keep your tweets coming through, in regards to which slogan you would like to see in a t-shirt regarding the global economy. we'll see you in a second. an a network. it's how you stay connected. with centurylink as your trusted technology partner you get an industry leading broadband network and cloud and hosting services. centurylink. your link to what's next.

hi, everybody. welcome back. you are still watching "worldwide exchange." . these are your headlines from around the world. >> it's official now, hict vows to champion every day americans as she lawmgs her presidential bid in a van with a visit to iowa. >> u.s. futures are higher. this has chinese stocks continue to march higher on stimulus hopes. >> san francisco fed prison john women's says the central bank is plotting a path to rate normalization. >> and netflix looks to increase its share. raising speculations of a possible stock split ahead of

earnings. this week. and if you are just tuning in, thank you so much for joining us on the show. here's how markets are faring ahead of the u.s. open. this is as the s&p is really within striking distance of its record high. it's higher by 0.5%. that was on friday. but just 0.7% below last month's record close for the week. higher than 1.7%. into show you what european markets are doing this morning. we're seeing the zetra dax still at its record high. the ftse a little bit of pressure. we got a number of down grades for the miepg sector that's coming through from citt and this is also in response for the

very weak export numbers we got out of china. as we've been talking, hirk has officially joined the race for the white house in 2016. she launched her campaign on sunday with a message on twitter and this ad which was posted on youtube. she's promising to serve a champion of everyday americans. her campaign rather says that she won't hold her first real rally until next month but clinton is already off on a trip to ieowa this week. she's already posting photos from the road. including this one. >> the race for the republican presidential nomination could get a bit more crowded today. florida senator marco rubio will announce his kbenctions at an event in miami. new jersey governor chris christie says he will make his decision by late spring or early summer. let's talk a little bit more about u.s. politics.

join is us is an economic policy analyst at the american enterprise institute. james, good torng to you. hillary clinton's message is one that'sen want to deflect from her own persona. is the message overall, is it a credible one, though? >> this has been fundamentally -- this is not a new message for democrats, fighting for the middle class. it was barack obama's message, it was al gore's message and she's been in government for a while. the clinton administration had a reputation for being close to wall street. clearly she does not want to be thought of as the party of big business, of the establishment of wallet street. is to a focus on middle class. if you look at that video ad and that was the obama coalition, that video ad it was young women rg working women, minorities, young people so she wants to run as part of that obama coalition while not yet --

not explicitly running for boem's third term or even her husband's third term but hillary clinton's first tarym. >> >> how will the gop differentiate themselves from that message. rubio has got a message focused on the american middle class. how will they respond to that? >> mitt romney could not beat barack obama while unemployment was 8%. can mitt romney's message be hillary clinton when unemployment is 5%. republicans need not only just a different messager. marco rubio has a different message. something that's different than what republicans have been running on for the last generation. it's about up ward mobility. it's about the middle class. when he cut taxes for rich people? yes, he's a republican he would cut taxes for rich people but he also has a big fat tax cut for middle class americans which would be paid for by racing

taxes on wealthier americans. that's difficult for a republican. it ls has a welfare reform plan. >> james, there used to be a time when whether you were republican or democrat supporter, that the policies were somewhere in the centrist line they were somewhere in the middle and then recently over the last couple of years, it seems that we have this very large split between democrats and republicans and they kind of can't agree on anything. do you think we're going to see politics heading back toward the centrist policies or are they going to hang on to being at such large differences with each other? >> it's primary season. that's going to be difficult. we've heard a lot about

republicans and the tea partiers. less reported is democrats have really moved left. you have two parties have moved in opposite directions. then you have those who want to meet in the middle. you heard republicans talking about going back to tax rates that we last saw in the 1920s. smart policy tends to be more toward the middle. infrastructure spending. republican, democrats may have different views. most people agree that would be a good thing for america. most people think increasing take home people for middle class people would be helping america. i think good policy riept is in the middle even though the politics remain at the extremes. >> what do you think is going to be key to 2016 success? >> listen the big issue facing america is how can we get this

economy growing faster not at 2% something more like 3, 3 1/2% how can that growth help everybody? and the candidate who can tell voters not that you were better off, you know eight years ago or four years ago, but will you and your family be better off ten, 15 years from now. will your kids have more opportunity than you did? the candidates who can answer that to the satisfaction of the american voter will be elect the next president. looking at some of today's other top stories, well, hillary clinton's twitter actions they stole the spotlight this weekend but a number of other major players didn't go completely unnoticed because donleds trump entered a very public spat with john legere on the social network.

they took turns insulting each other's companies and each other's hair. >> i don't care what kind of hair you have. >> long it returns. >> unless they get a hair cut cht. >> spotify is reportedly close to a deal to raise $40 million. the wall street journal says the terms are set and the funding is expected to close in the coming weeks. goldman sachs and an bu dabi fund is reportedly set to invest. >> now marissa maher is shaking up yahoo managing ranks. tumbler david carp is getting a

dmeegs. he's now going to be overseeing yahoo's home page and other sites light tump bler. >> facebook founder mark zuckerberg took the opportunity to fire a question to president obama in panama. at a summit he asked the president about connecting the world via internet? >> what have you learned in making this a priority in he did tft lessons that you've picked up from all the work pa that you've done what work have we done together to make sure the world can remain connected? >> the internet was created with government investment. now that in every country we recognize there's an infrasphrurkt that has to be built, we also have to be working together with the private sector to make sure that it's built-in a way that anticipates how rapidly things are changing. >> now, you've been writing many

with suggestions for t-shirt slogans on the economy. peert says no more tax. print money. short to the point. gregory says brother with you spare a billion, and david says qawp tatetive easing. qe. quite ecstatic. xingt we've got tweets ross says real men do it off balance sheets. we've got kai, growth today, tomorrow extra large. donald says no yellen at yellen. >> that's the best i want action we've had all months. >> let's got qe is still my favorite. >> i'll have quantitative pleasing because that's mine. >> okay. listen coming up, qual com could be headed.

stay with us.

hi everyone. welcome back. chinese markets have shrugged off a sharp slowdown in the country's exports amid hopes that the weak data will prompt further stimulus by beijing. exports fell by 15% in march. imports coming in below

expectations and this is happening as the world bank is lowering its forecast for chinese growth. unit nis, it -- might not mean a lot with viewers saying we were looking this drop by 15%. but we were anticipating a rise of 12%. >> yeah exactly. that's one of the reasons why there was such a surprise in the market when these numbers came out. just because usually we see distortion in the monthly figures for january and february, especially because factories are off on holiday for the lunar new year and in march, they tend to be on full throttle. that's the reason why we expected to see a rise and instead what you had was a drop of 15%. that was a bit of a shocker. and on top of that you had the import figures also come in quite weak down by 12%. so the combination of the two really made people quite nervous and start to raise questions about growth in china and the gdp first quarter numbers which

are coming out later in the week. a lot of people have been expecting to see 7% growth for those numbers. now, there have been plenty of people who have been wondering whether or not we're going to miss that estimate and in fact if it's going to be lower, and then again people are wondering whether or not this is going to mean that the government is going to have to come in to try to prop up growth with some extra measures to try to stimulate the economy. the world bank also added to the gloomy figures. they down yaded -- graded their forecasts for the year for china to 7.1% from 7.2%. they also see slower growth in 2016. so overall, there hasn't been a lot of good news when it comes to the actual figures that we're starting to see trickling out of china. >> eunice thank you very much for that.

now, netflix is seeking to increase its number of shares by almost 30 times in a filing on friday. it aims to go from the current 170 million to 5 billion shares. they say this could be first step toward a possible stock split. netflix, rose on friday. >> it seems activist investors have been very busy in the past year. it appears they have a new one in site. qualcom. >> qualcom is facing new pressure from akctivist investor jana partners. they are asking the company to spin off its chip unit from its patented licensing division. the journal says jana has bought

a $2 billion stake in qualcom making it one of the largest shareholders. jana qualcom management have reportedly talked privately sips last year and these talks with called constructive. the company welcomes input from our investors and the board will consider actions in their best interests. it typically works with companies behind the scenes as it did last year in gaining seats on the bo board on what is now walgreen's boots alliance. last year, they pushed to ebay and pay pal. qualcom is the world's largest maker of chips for phones.

qualcom is also facing pressure on other fronts. long time customer samsung opted to use its own chip for the galaxy phone. gwennyth paltrow says she's takingen 0 the food bank challenge. she accepted the challenge to try to get by on $29 worth of food for a week. but she's faced criticism over a photo she posted of her food allowance for being overly healthy and why would you need six or seven limes for a diet for $29. i like the rest xing why is it bad to be overly healthy? >> i'm in the saying she's fat. >> but she's facing criticism. she's got whole grain brown rice on there. she's got black beans, paes mix

that in greens. >> look she will always get criticism whatever she does. she once said i simply don't make $25,000. i am who i am i can't pretend to be someone who makes $25,000 a year. >> that's true. you work with what you have. if you have 20 days to write a report you use all 20 days. you have one hour you use one hour. >> it good thing she raises awareness for it. >> it's a fantastic thing she lays awareness. i wonder how ones own grocery bag would look if you took that challenge as well. if you took $29 per week. you can feel free to share what you think about this whether it's a good thth or bad thing that she's raising awareness, she's trying to $29 per week food challenge. some other news some game of thrones fans got a sneak peek at the new season before the rest of it. it leaked on line saturday.

the network says the source of the leak appears to be in possession to screeners it sent out. it was downloaded within 100,000 times within hours of being posted. >> look an he medication. it's fantastic stuff. >> you don't want it to get leaked. before we go to break, these are the headlines, hillary clinton officially hits the campaign trail as marco rubio gets set to enter the race. and san francisco fed president john williams sees less risk of awn expected setback once the central bank starts rate hikes.

welcome back. let's show you what european

markets are doing and we are a little bit mixed this morning. the ftse 100 is under a little bit of pressure off by 0.4%. this is in response to the weak data coming out of china with exports slumping 15% in the month of march. that sector is under performing today. the ftse not too far away from the record high that we saw at friday's close. similar story to the zetra dax. we got those levels 12,375. elsewhere we're seeing the cac somewhat higher. not a whole lot of movement today as we are responding to the asia data. asia itself responded to the data itself. shanghai reacted to more. the hang sang higher by another

2.73%. the and nikkei 9,905. and higher by one half percent. 58.76. it seems as though many traders who were short positioned in brent and wti, they are unwinding some of those. how are futures looking? >> we've got a couple of hours to go before the u.s. markets open. a couple of points lower with the s&p and the dow jones. earning season gets into full swing this year. intel and csx, they report after the bell. it's a big week for financials you have bank of america reporting on wednesday, followed by citigroup and goldman sachs

on thursday. and netflix steals the show on thursday. friday after the major buy back announcement that we had last week. >> a key fed official says there's less risk now. san francisco fed president john williams tells reuters the central bank is now focusing on charting an appropriate path to remove rates from zero to a normal level over several years. to get his message across williams has been handing out t-shirts with an arrow busting out of a computer that says monetary policy it is data dependent. and we put the question out on twitter and on email what would you put on a t-shirt when you talk about the u.s. economy and the response that we've gotten is tremendous. >> amazing. fantastic. what have you got? >> always use a nondom.

linda says fed up. move my bank rates. quantitative easing a queen or a cruise ship. >> anthony says kiwi. you never know how much you'll get. >> you've got donald no yellen at yellen. >> quantitative teasing. didn't we say that was the winner? >> he declared it himself. >> it's a good one. we've got real men do it off balance sheets. george talks about we be unwilling led by the unqualified. >> and he feels very cozy watching us. i'm glad that we instill this cozy feeling in you mplings that's it for today's show. >> have a good rest before your early shift tomorrow.

we'll you very soon good. bysie-byes. all from a trusted it partner. centurylink. your link to what's next.

xxx

. good morning, it's time for the numbers apple reportedly selling one million watches in its first day of preordered. and the race for the white house, hillary clinton makes it official launching a widely anticipated second bid for the presidency, and a masterful performance by jordan spieth. the 21-year-old wins a green jacket. the second youngest champion in the history of the tournament. it is monday april 13th 2015. "squawk box" begins right now. ♪ ♪ live from new york where

business never sleeps this is "squawk box." >> good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick. a commercial resupply mission to the international space station is planned for this afternoon. several tons are to be deliver. including new science experiments and technology research. also headed for space an italian espresso manger. if you were just making up this morning, let's get you up to speed on the markets. take a look at what's been happening with the futures this morning. things have barely budged. last week was a very good week for the markets. the major averages quite a bit higher. the dow was up 7%. apple taking nearly one million preorders in its new watch. that happened on its