good morning. earnings alert. shares of bp rising despite 18% drop in profits. the details plus ceo bob dudley's call on oil prices coming up. >> apple ready to roll out results. we'll bring you the three things to watch. >> and 2016 decision, five key primaries today. could be make or break for many of the presidential hopefuls. it is tuesday april 26, 2016. ♪ oh i think i found myself a cheerleader ♪ ♪ she is always --

>> good morning. i'm sara eisner. >> and i'm wilfred frost. right to the market action. yesterday we saw slight declines. about .2% for the s&p. the dow called hired about 20. the s&p 4 and the nasdaq by about 8 points, 2 points following some gains elsewhere in the world. ten year phonote as well. we've seen yields tick higher over the last ten days. bang on now 1.9%. >> global stocks are moving higher in the early action. ahead of key central bank decisions and heavy earnings. europe, earnings movers helping kill gains in early action right now. bp on the move which will hit in a moment. there it is german dax. fractional gains. france is negative. ftsi 100 and italy both

positive. italy with a gain of about 1.5%. mostly declines in asia defined by a stronger japanese yen which's something that's been plaguing the japanese stock market. gains in hong kong and shanghai by about .6 right now. >> oil prices had a fantastic week last yeek. gave up some yesterday but bouncing back today at 4 .84. blent up about .4%. the pound has just hit a ten week high. it's stronger against the euro and the u.s. something today. the latest polls have shown the

remain camp doing a little better and the pound moving up .6% today. a ten week high, 1456. quick look at gold prices. and we're looking at slight declines of .3%. 1235 for gold price. >> on the agenda it is a busy one. the federal reserve kicking off a two day policy meeting. a decision on interest rates is due tomorrow. no change is expect bud of course traders will be parsing that statement for any clues about the net's interest rate increase. today is business for earnings and economic reports. starts with march durable goods. orders for big ticket items have expected to have rebounded following a 3% decline in february. at 9:00 a.m. the -- index.

and earnings report. and after the close we'll get results from apple, at&t, chipotle and twitter. each an interesting story of their own. apple obviously with the biggest weight on the s&p. the dow and the nasdaq is going to be huge. >> also a decent day for earnings in europe. bp posting latest results earlier this morning. quarterly profits dropping 80%. but that topped expectations the company now says it could cut capital spending further. another name out of europe, standard charters. shares up sharply. q1 coming in at $1.1 billion. the firm sees q1 tradesing in line with views and continues to

make progress on strategic objectives. and you can see the share price really spouting hard. first release it was up and then some more stuff. >> going through bp results. wonder if it is a good preview of what is to come later in the week. cost reductions, trimming the budget, as bp had done three times already last year and warning of higher or at least more balanced oil market when it comes to supply and demand. that commentary you just read from dudley will be eager to hear what the others say. >> i think bp's rally share price is particularly interesting. the bank sector have been one of the worst performing coming

into. so you when you see -- the energy stocks have already rallied significantly. so bp up despite a drop in earnings is an interesting one to watch. >> another earnings mover. dupont. reporting better than expected quarterly results. raising full year guidance as it sees lower currency impact than expected. this is something we were waiting to see from big multi national companies. the chem and seeds producer plans to merge with dow chemical. last month regulators needed more time related to that deal. a little action here in the pre market. that has been a company that's been plagued by changes in the chemical industry but also the stronger u.s. dollar. now the weaker u.s. dollar that we saw in q1 set to have an easing effect later in the year. >> indeed. facebook is the next one on the

agenda. not reporting numbers. of course which they did last week. reportedly developing a camera app similar to snapchat. the wall street journal says the social network's goal is to increase user engagement. all in the early stages of development. so many platforms. >> thursday. >> alphabet was last week. speaking of big tech, a lot of earnings movers to keep our eye on. landon dowdy joining us with three things do watch in the apple report. >> according to estimates, apple is expected to account for about 5% of all s&p 500 q one earnings. beyond the numbers here are three things to watch.

first investors will be dialed in to iphone sales. apple is expected to report 50 million units versus 60 million last year. the first year over year decline in iphone sales ever. second, china has been the bright spot for apple for several quarters but the market is becoming oversaturated. raising the question is apple out of luck in china. especially as regulators crack down on the tech giant. some analysts still see opportunity. >> the government has been pushing back on using iphones and the china growth still has been 15 to a hundred percent. i think they are always going make it difficult but apple is going to have a booming business in china. >> things like itunes, apple

music and apple pay. >> and key things in terms of future products and services? >> these numbers are pretty bleak but it comes down to what's next? the next product? the iphone 7 or whatever it is called really has to be a wow product. who knows wilfred. maybe we'll get the iphone wf. >> i like that. i like that a lot. >> wtf. >> can we say that? >> she did. there we go. >> apple is emphasizing and stressing as it wanting to be higher valid as the services company, not just an iphone company but it gets majority of revenues still interefrom the i product. and any hints could be key. >> and something like 11 million

subscribers. >> the stock's been flat this year so far. so the question is has it been baked in already. >> indeed and the china commentary always important. other corporate news this morning. alibaba affiliate ant financial services moves one step closer to ipo. valid at close to 60 billion dollars. another success story within alibaba. the container stores. announced cost cuts following a year of heavy investments. the stock responding nicely ahead of the open. and fda panel sayi ining sareptt

doing something. >> some more stocks to watches. nabors has suffered as oil producers use fewer rigs. express scripts reporting lower than expected revenues. still hiking profit projections for the year. toshiba takes a 2.3 write down as they try to recover from a accounting scandal that's forced it to sell off several assets. >> stocks to buy. the federal reserve hawks? and another hedge fund shutting

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and the nasdaq just expected to open slightly positive. let's have a look at oil. that's been relevant. down yesterday after the fantastic week last week and it is now up again a little bit today. 42.9. up.7%. >> today's trade of the day. treasury yields hit their highest levels since march. a bit more hawkish tomorrow, hinting another interest rate increase may be coming sooner rather than later. so used history as a guide to figure how to trade that statement. the xlb materials, the xle and

the xlf financials rise with yields. for more go to cnbc.com/pro. i'll be watching the dollar yen. if it rises along with treasury yields as the sign investors are betting an interest rate hike is coming and the fed is leading towards it potentially as early as june. if it falls it is an indication they are still in caution mode. >> i agree but there are -- >> true. and thursday and god knows. they are looking for stronger yen. investors are looking for some action. >> all right so -- >> a look at the euro dollar too. >> -- firm was founded and owned by a -- get management and returned average returns.

north trust's fifty south capital advisors had proposed to buy them in march but that deal was terminated. >> it's been a painful period. two well known firms in the -- world talking about the tie up. in discussions with houston based pickering holt. a deal could help the two. as the oil industry is trying to cope with low commodity prices by selling off asset, reducing debt. raising additional capital, even bankruptcies in some sense combining those together to get some of the scale to energy clients. >> the sony building in manhattan is being hold to a pair of international property

investors. the groups will buy the building known for its distinctive notched top. the sony building is currently owned by a group which had planned to convert it to luxury condos and a hotel. the new buyers are expected to keep the building as a commercial office space. >> pretty distinctive building. >> still to come, voters in five states head to the polls and the stakes are high for presidential hopefuls primary expectations. that's coming up in a few minutes. and could tiger woods be back in time for the u.s. open? fans are hopeful? details in today's sports round up. as we head to break, here is the national forecast from jen carfagno. >> starting with a dangerous situation setting up across the

plains. large hail, baseball, even softball side hail. and also a risk for torntds. listeni the threat going up into the evening right here from nebraska, kansas into oklahoma and down into texas. also storms with small hail possible in the ohio valley. and the mid atlantic, risks for thunderstorms and strong severe winds. also very warm in the southern states. temperatures running 15 degrees above average. that's your forecast. i'm jen carfagno -- whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond.

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welcome back to "worldwide exchange." very good morning to you. political news. told's five primary contests will be critical for both parties. tracy potts joins was the latest. >> reporter: good morning wilfred. let's start with the democrats in case. 462 delegates at stake in these five contests today. and hillary clinton is predicted to win most of them. hillary clinton celebrating spring. >> it makes us all feel like there will be a new beginning, doesn't it? >> in pennsylvania at the very spot where she hopes to accept the democratic nomination this summer, polls predict a clean sweep in today's five east coast

primary, including in pennsylvania. >> let us see in pennsylvania t highest voter turnout in the history of the state. >> bernie sanders faces more questions about how long his campaign may last. he rallies in west virginia today. donald trump has a double digit lead in today's pennsylvania primary and national. despite the two other republicans agreeing to split up their chances against him in three upcoming states. >> it is nothing more than an effort to target the resources because we're going to head to an open convention. >> they are going to pick somebody like that? and you know, give me a break. not gonna happen. >> ted cruz is already going after kasich supporters in indiana. >> if you don't want to see donald trump at the nominee, if you don't want to see hillary clinton as the next president then i ask you -- >> but first maryland, delaware,

connecticut rhode island and pennsylvania today. >> and still not enough to put any one candidate over top? >> is there any mystery and intrigue or all eyes on indiana next week? >> it is really all eyes on indiana next week. that is going to be the first test of this alliance between ted cruz and john kasich with kasich stepping back. is it really true what ted cruz has been saying all along that he can beat donald trump when they go one on one? we'll find out in indiana? >> thank you very much. check back with you tomorrow when we get some results. for now let's go to sports. it was win or go home in the stanley cup playoffs monday night. third period. chicago turnover sets up the go ahead goal by the blues.

it is the first time the blues have made it past the first round of the playoffs since 2012. >> and a story everybody is wondering about. the golden state warriors saufr big blow. instead of curry will miss at least the next two weeks with a sprained right knee ligament. curry had already missed the two previous games with an ankle sprain. so two weeks he's out, although i've heard that it could have been a lot worse. if he would have torn his acl or if he would have done more damage than he would have been out for the rest of the playoffs. >> i'm proud of you. i thought it was going to be too emotional for you. >> worried about steph? i'm not the only one. he's that critical to the growth in their footwear business. >> i agree with you. and we wish him a swift

recovery. and will he, tiger woods play the u.s. open? june? he has yet to name a day he'll return to competitive golf after underdoing two back surgeries last year. but pictures of him getting back into the swing of things will give people hope certainly. >> and the founder of nike, telling his story. has actually never openly talked about the past, the nike story, how he and a group of fellow runners and accountant friends formed blue ribbon sports. ultimately grew up to become nike. but now he's 78, and he's ready to share his story. he's putting out a new memorier this week called shoe dog. being published today. he'll be sitting down with us for a rare interview on "squawk on the street," 10:30 a.m.

eastern time. i haven't been this excited for an interview in a long time. >> we look forward to that. 10:30 on "squawk on the street." >> yeah. and just some nuggets from the nike history that nobody has ever heard before. where the swoosh came from. where "just do it" came from the and these market slogans and brands came from. he has a very close relationship with tiger woods, interesting. >> interesting. 10:30 squa"squawk on the stree." these two are making their mark on the wec just st coast j they did in new york. in the university of california san francisco, the largest donation in school's history and one of the largest ever for brain research in the u.s. also brings their total giving

to $1 billion. that's at 3:30 p.m. coming up. this mornings top stories. a packed calendar. and chipotle will be reporting results. the three things you want to watch in that release. and a mid afternoon pick me up? hershey's newest innovation? we'll bring you the details next. you shouldn't have to go far

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good morning. the fed in focus. janet yellen in company gathering for a two day policy meeting. >> long list of companies posting stocks today. >> and travelers are more satisfied with airlines than they have been in two decades. tuesday april 26, 2016. you are watching "worldwide exchange" on cnbc. ♪ good morning. and welcome back to "worldwide exchange." i'm sara eisen. >> and i'm wilfred frost. a very good good morning to you. the fed kicks off a two day policy meeting. decision a due on rates tomorrow at 2:00 p.m. eastern. today a busy one for earnings and economic reports. march durable goods are out at

8:30 a.m. orders are for big ticket items are expected to have rebounds following a 3% decline in february. 9:00 a.m. we get the monthly s&p price index and the more. lots of earnings. reports results before the open. after the close we hear from apple and more. lots of earnings. let's check on the markets and show you futures. modest rebound expected in the early action. but as wilfred mentioned. lots of economic reports and earnings to keep track of. dow futures up 52. s&p futures up 7. nasdaq futures up 17. nasdaq coming off three straight days of declines. microsoft last week. can apple, facebook, twitter this week change the tide? we'll be watching today. as for if ten year treasurely

note yield. highest since march. the decision is expected tomorrow 2:00 p.m. eastern time. we'll see if yields go even higher. reaction to the durable goods report starts 8:30 a.m. eastern time. >> europe in the green to the tune of about .4% for germany. similar gains for ftsi 100. italy up, france up just slightly. asia saw mixed performance. the shanghai up the hang seng as well. the nikkei suffering slightly. >> and the broader market picture. oil prices after 2.5% decline yesterday we are seeing rebound in today's trading detection. wti up a percent.

brent, the international benchmark, marching towards $45. continued strength in the price of oil. as for the u.s. dollar wilfred mentioned strength in the japanese yen ahead of the boj, the euro is stronger though and that weaker u.s. dollar has been helpful --. with a forecast like dupont coming up in a moment. the polls indicate britain and the eu doing better after president obama visited and strongly advocated for britain remaining in the eu. and we've been watching gold and silver. gold coming off about .3%. speaking of commodities. bp posting results this morning. quarterly profits did drop 80% but that topped expectations but now the company says it could

cut capital spending further. they do expect crude oil prices to recover as producers stop work on fields and demand remains strong. echoing what we've heard from analysts which is that the supply and demand is finally coming into the rebalancing and that should stabilize the price of oil towards the end of the year. that stock is actually up nicely in early action in europe. >> and the refining and trading arm that compensated for losses in production. certainly given energy has already run up quite well, surprising to see a nice bump in the share price today on the face of headlines declines in earnings albeit beating estimates. dupont reported better than expected quarterly results. the chemicals and seed producer plans to merge with dow chemical but last month regulators needed more time to review the deal. >> and dupont was supposed to

report this morning at 6:00 a.m. but inadvertently sent a partial earnings release to people last night and so they had to pull the trigger and release,000 full reresults. >> morgan substantially reporting 5.2 stake in sandisk. united technologies hiking its dividend by 3%. it will be payable june 10th to shareholders on record by the end of may. >> more stocks to watch. chicos expects to cut fiscal marketing expenses for the year by $11 million. they hope to save 14 million in annual costs. it's flat at pre market. >> -- with a lot of caveats. some of the restrictions aimed to promote online video

competition. pioneer natural posting a narrower than expected loss. >> another interesting stock to watch will be chipotle. land dowdy joins us with three things to watch in this report. >> expectations for them are low. three things to watch. forecasting revenue of $868 million and a loss of around 105 a share. and a dramatic swing from the profit of $3.88 a year earlier. this as they continue to feel the pain from last years food borne illness outbreak. and shares from dropped 40% since august. and third, this is the biggy.

the chain has been trying to win back customers with heavy promotions and giveaways. and watch to see if the free food can help free them from the food safety woes. >> always a question as to what the consumer psychological impact of something like this. and there aren't many historical examples. >> jack in the box is a another example. it was a much more severe outbreak and a turning point for the industry. it was back in 1993 and took around three years for sales to reach back to pre outbreak levels. so it will be interesting to see how the coupons really help the quarter. >> not that many people outside of our obsession of talking about this all the time are that aware of the food safety

scandal. people who are in here discussing it every time it happens. >> they warned about this. and you could be right. but now that it's tapered off people are less aware. >> less aware than perhaps we would think i would like to say. >> apple is set to release results after the closing bell. so our first twitter question of the day. is that price already in the stock? so far a 50/50 split. keep voting. for today's top trending stories. hershey. beef jerky snacks. made from dried meats and fruit this august.

also developing at brand called sofit. >> sales have been doing well. so follow the trend. >> there you go. who am i to comment? travelers are more satisfied with airlines than they have been in more than two decades? flyers citing better cabins and in flight aplenties. >> it still ranks below the travel books and hotels in terms of the overall satisfaction. an elite dating website called beautiful people.com has been hacked.

uh-oh. the site claims to be the largest community of attractive people in the world and excludes members by ranking their and. >> sounds awful. >> ashley madison. >> obviously you don't want any hacking but it is kind of like. well if there is going to be hacking you kind of want -- >> the really juicy ones. >> exactly. the people that deserve a little bit of shtick. no trump zone signs popping up around the u.s. the work of a los angeles based street artist in. sits just across the street from the real state mogul's hotel. >> i think all helps him.

gives him even more publicity. more attention. >> does the kasich cruz alliance do that too? >> -- says doubtful, that it works. >> right. okay. >> don't get all twisted over those stories today is national pretzel day. and it may have originated in europe as the pennsylvania dutch introduced pretzels to the americans. >> lot of pretzels. >> u.s. sales topping 1.2 billion last year. i'm not a fan of the pretzel. >> i only like the chocolate covered pretzels. i always prefer popcorn pretzels. >> british chips. >> i agree with you.

i. >> crisps. >> crisps, excuse me. coming up. may finally be time to bring on a third party candidate in the presidential race. and a programming note later today. t-mobile ceo john legere. this is lulu, our newest dog.

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welcome back. this morning's must read stories. i went to the wall street journal. "bring on a third candidate." co-founder and former ceo of politico. writes "the ideal candidate here could write a very specific agenda in normal conversational language. not whatever nonsensical language today's political class was taught to speed. he or she would engage social media with fun and flare. --" he says the political party and the elite need disruption and the voting class is demanding it but he says those are not the best ways to go. and the problem is he doesn't mention any names for this at the end and there is no one

really willing to step up. he does say maybe a cheryl or mark could head a third party. and what's going to lead it and fund it and. >> my pick is in the financial times. hedge fund managers need to know when to admit defeat. crispen odie, daniel davies writing it is always worth looking out for the indicators that a fund manager might be in deni denial. changing rationales for a trade. blaming --. it is an article like some of those big names and the issues they faced and more than just

simple quarterly declines. looks like big losses in one or two particular trades and chasing the losses they accumulated compared to their past performance. and that debate we had, can this 2% and 20% survive? anymore? and you have tracker funds that charge 10 basis point, 20 basis points. it is a huge chasm in terms of pricing. >> even anecdotally we hear they are behind. almost 15% rebound in the markets. just in general the headlines have not been good. >> absolutely right. >> we're approaching top of the hour. the team is getting ready for "squawk box." andrew joins us with a look at what's coming up and i'm sure he's got a must reed story. >> it's tuesday. i thought you would have already talked about it or put it on the screen or done something. >> i wanted it from the source.

>> i wrote about the tribune company and a non executive chairman there created a very strange situation where -- has basically said made an offer. tribune has said talk to the hand. and probably shouldn't be saying talk to the hand because it a sort of unmitigated disaster of company. check it out. he's effectively pursuing what might be described as the coupe of the board. and at which point he would effectually i own control of a majority of the company without having paid for the majority of the company. we have the ceo of eli lilly, the cfo of broprocter & gamble.

and more. lots to go over. >> and an economic report. >> and economic reports. >> -- 8:30. >> we do. that's what i know you are waiting for. >> i'm counting down. we should have a countdown clock -- no, but people are looking for a rebound number in that big ticket spending of corporate america. thank you. still to come we'll get you caught up on the markets, plus we willem buiter will join us.

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welcome back to "worldwide exchange." central banks in focus this week. fed begins a two day policy meeting this morning. and bank of japan meets later this week. joining us now williem buiter.

thank you for joining us. between bank of japan and the fed which is more important this week. >> well the fed always. about the weight of any other central banks. they will however not do anything in terms of great movement. while there is some chance the bank of japan will cut rates further or do something else in expansion of nature in attempt to get the yen down. so as always the fed is the most important since they will do nothing and do it well. i think japan is probably more interesting. >> i'm wondering if you think given that your report a little gloomier than others on the street whether the fed is going to move at all this year when it comes to raising rates. >> the fed looks at --

conditions. dual mandate. and since inflationary pregnancies in the u.s., while still subdued are i think slowly rising. and since labor market tightness is continuing to increase, i would be surprised, unless the weakness in the first quarter is continued into the rest of the year, which i don't expect. i would be surprised if the fed would not raise rates at all. clearly if the rest of the year is like the first quarter, they won't move. but that i think is unlikely. and u.s. is simply in a different phase of the cycle than other advanced economies. >> we know the u.s. and the fed have been considering what's been happening around the world. looks like we've gone a little more calm though on the international front. what is your view of the way that volatility has reduced in places like china? is that that genuine or is it

simply short-term smoothing over of the cracks? >> well, volatility itself is often not warranted by fundamentals. and i think the markets earlier in the year definitely were exaggerating the underlying real economy strains and stresses. at the moment i think markets are taking a breather, as they often do. there has been i think very little fundamentally proven, especially in china. yes economic activity has perked up a bit. but that is driven i think almost entirely by unsustainable credit growth and by old style fiscal stimuli, which are simply not sustainable solutions, and get in the way, of china's necessary rebalancing. nothing has been solved in china. they have kicked the can down

the road which is what politicians and policy makers often do. i expect that we'll see a resumption of excessive volatility at various times this year and beyond. of course central banks should not overreact to high frequency financial market noise. if they did, they would be -- >> thank you for joining us this morning willem buiter from city. >> welcome. >> only a few minutes left. i'll be watching procter & gamble ahead of the opening bell. struggled with foreign exchange. that stronger dollar weighing on sales abroad. what will they say now that the dollar has weakened substantially? >> and i'll be watching apple,

tech underperforming under the last week or so. can apple buck the trend? that is the question. that's it for "worldwide exchange." thanks for watching. "squawk box" coming up next. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. ♪

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good morning, earnings reports from eli lilly. procter & gamble and more. the white house. cruz and kasich, showing signs of cracking already. and we're going to give you the latest from the campaign trail. and it's been a rough month for under armor athletes. tom brady redeflated. and steph curry's sideline by injury hasn't impacted the

byline. "squawk box" begins right now. ♪ welcome to my house >> live from new york. this is "squawk box," where business never sleeps. good morning everybody. welcome to "squawk box" here on cnbc. i'm becky quick. andrew sorkin. joe is out today. there are some green arrows today, after a down day yesterday. although they got out of the worst losses to end down just slightly. the s&p is now down about 2.2% from the may 20th high. the dow just over 2% from its may 19th high. dow futures up about 26, s&p up about 5. nasdaq up 9. the nasdaq was down three sessions yesterday the first time since early february. in asia t nikkei ended