good morning. breaking overnight, a $62 billion offer for monsanto. and redstone removing viacom's ceo in the event of his death. and decision 2016 in a dead heat. it is monday, may 23. "worldwide exchange" happens right now. ♪ >> good morning and welcome to

"worldwide exchange" on cnbc. i'm sara eisen. >> i'm wilfred frost. a good morning to you. here are the big stories we are watching at this hour. germany's buyer offering to buy u.s. seeds company monsanto for $122 per share in cash or $62 including debt. before the bid rumors began to emerge. president obama, the second big story is him on his visit to vietnam today. so far the u.s. will fully lift the ban on selling arms to vietnam. and here we continue to monitor fed speak as well. the speculation is rosengren sees the conditions for a rate hike on the vernal of broadly being met. rosengren is getting ready to back monetary policy as financial indicators have become more positive, more on all three of the big stories coming up.

first we'll get you up to speed on the markets. wall street said to open a bit lower this morning after we saw a nice gain on friday. the s&p 500 closed up about -- there's a flip just in the last few moments or so with the dow futures up 29 or 30 points. s&p futures up 4. nasdaq futures up 11. i was just going to say, the s&p 500 finished higher on friday to push it over the edge of positive territory for the week. just positive. the nasdaq, in fact, had its fourth weekly decline. something it has not done since back in 2014. so clearly there is still caution as the markets try to grapple with the idea of a summer interest rate hike on the table, off the table, are we okay with it or not? as for the ten-year treasury note yield, big jump in yield last week. they went from $1.70 to the high $1.80 levels. now we are at $1.82. it is calm out there in the global market. >> i like the big takeaway from markets last week with the s&p

finishing positive. the nasdaq and dow were up also. there was no big loser given the developments during the week about the possibility for more hikes. the fed will be coming away from last week thinking we achieved putting june back on the table without spooking markets too much. the story is similar if we look at global markets. yes, there's a bit of red towards the end of the week in response to the rate hike, but at the moment we're base you cannily flat to mixed in asia today. japan is down, shanghai is up, but pretty mix ed. a bit of green on the screen and a bit of red also. over the last week there's positivity out there. the stoxx 50 is up. the markets not too spooked by the talk of a possible rate hike coming up. besides the other driver for the market, we'll look at the

commodities trade. wti is below $48 a barrel right now down 1%. we are at the international benchmark above 48.33. we'll keep an eye on that. the oil/dollar story has really been a primary driver. gold has been hit pretty hard as the expectations rise for a federal reserve interest rate. gold is starting the pressure at or as the finance leaders met over the weekend. the euro/dollar is weaker. the japanese yen is putting pressure on the japanese stocks overnight. >> i would say even though we didn't see a huge reaction in equity markets, we saw a big reaction in the u.s. dollar with the broader index up 1% in response to the fed minutes. the g7 finance committee is wrapping up meetings in japan.

they are issuing a warning against japan and currency marke markets. u.s. secretary's opinion is different. >> it's interesting what we have been hearing from the japanese over the week. it's a busy day on the data front. look for new april home sales tomorrow. thursday we'll get april durable goods and pending home sales. then on friday the second estimate on first quarter gdp and may consumer sentiment. most of the big earnings are out of the way. if we do it, we have to look at the earnings session, which has sort of been -- it's felt lousy,

but overall things are only down 2% to 3% and revenues are actually higher for this overall quarter. >> it's the guidance. the oil prices haven't recovered to the sentiment gauge. there's a lot of caution out there. >> there's uncertainty from the global economy, national markets and the u.s. collection to the brexit, you name it. there's a high level of unconcerncy facing corporate america. could this be a catalyst to drive deals going forward? the chemicals firm bayer has made a $62 billion offer for monosan toen. let's have a look at share prices this morning. you can see monsanto up 9% reacting positively since the rumors began a week or so. bayer was down 2%. it was already down 10% with the rumors last week.

if the merger goes through, it's a $1.96 -- you don't want to miss this. the buggest barn takeovers, yes? >> absolutely. and the amount of consolidation in this particular sector is nrms. you've got syngenta dealing with china. >> are the regulators going to let it go through? the other question for bayer is advertise a largely phrma company putting itself firmly into the gmo crop market which is something that monsanto does. which has been highly lucrative and very transformative

technology but also coming u increasing pressure from regulators and social concerns as well. i know it's a big deal in europe to be genetically modified. it's 95% of the soybeans and corn. now 50% of their business will be in the crop market. >> still antitrust issues to get past, but that deal is certainly a headline this morning. speaking of deals, anthem and cigna's merger could be in jeopardy according to the "wall street journal." the companies seek regulatory approval that could delay anti-trust proposals. cigna shares are slightly higher

in the premarket. lending firm has hired jeffreys to find investors for loan funding. the lender is looking to gain investments after the recent news of the internal investigation over the sale of some of their loans at half a percent to the free market. and bannett's latest $864 million takeover. toshiba announces more of the capital base to be halved. they are determined to cut $1.8 million. the payments processor saw shares drop 20% since the 2015

ipo but barron's is making a pop for that report. and president obama visits vietnam. he'll receive a billion dollars at list prices. the low cost area market has grown 20%. but they worry that -- don't they have like $10 to $15 flights? >> sometimes. they are definitely the lowest cost airline in europe. moving on, men's wearhouse george zimmer is eyeing a

return. the combination of what he's built in the past couple of years with men's wearhouse would be a great paradigm. and landon dowdy is joining us with more. >> never a dull moment. here's the latest on friday, removing viacom's ceo and board member george abrams from both the trust and the board of national amusements. that trust will assume voting control viacom and cbs if he's -- this would be a big victory for redstone's daughter sherry ousting viacom

executives. they are raising back arguing that the 92-year-old lacks capacity to make changes on her own and is ma nip plated by her story. redstone plans to add general council to the seven person as we well. now you better grab your best pr pro and saddle up. we'll have more on that from viacom. when we come back, a rare sit-down interview with the bank of japan head, haruhiko kuroda. here's confident that japan has enough inflation to hit the target, next. and first happy birthday wishes to george osbourne who turns 45 today. he's been chancellor since 2010

and a member of parliament since 2001. he also just tree leased the -- release released more information. we'll have much more on that when we return in a few minutes. argonne khe sanh midway dak to normandy medina ridge the chosin reservoir these are places history will never forget but more important are the faces we will always remember. ♪ cathy's gotten used to thee sme...in her kitchen rbage...r. yup, she's gone noseblind. she thinks it smells fine, but her guests smell this. ding, flies, meow

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kuroda says he has monetary levers to pull when it comes to hitting the boj targets. we are sitting down with akiko fujita with more. >> reporter: good morning to you. from negative interest rates to the fed, this is a wide-ranging conversation. but we started it by talking about the yen's move. finance ministry is the one that will ultimately decide if japan intervenes in the market or not, but the boj has been criticized for not acting in the last meeting despite the yep's appreciation. it has gained more than 10% on the dollar since the boj introduced our negative interest rate policy back in january. i asked governor kuroda whether there was a red line that the boj has set to affect the price target. he said that there was not in his words, he said it doesn't matter if the yen is at 100, 120

or whatever because the central bank will be looking at several factors including output expectations in addition to the exchange rate before opting to move forward with the easing policy. this has been called into question after the central bank delayed the inflation. here's what he had to say. >> i don't think our credibility has been reduced in any way. because, as you know, the u.s. and the european central banks have also delayed and delayed the time when the 2% inflationary target is met.

because not just japan but also the u.s. and europe have been faced with higher crude oil prices. and that has affected the inflation rate among the three major countries. >> and we also talked about the fed. governor kuroda, i asked him about the likelihood of the fed raising rate hikes. if that rate hike goes through, it would strengthen the dollar, essentially taking some pressure off the boj. i asked governor kuroda how closely he was watching the move, he said he was focused on the domestic mandate of getting that 2% inflation target. but i want to get back to the yen because we really pressed him on what that red line looked like, how much higher the yen would appreciate before the monetary easing. take a listen to what he had to

say. >> i agree that the exchange rate would affect inflation prospect so on and so forth. so we continue to focus on inflation. inflation expectations, output gap and actual inflation trend. i can't say -- if the exchange rate would increase, then we would ease the monetary policy. i can't say -- we target our policy to inflation rate. >> as for the larger japanese economy, governor kuroda said it was on the slow or moderate recovery path.

the question is whether it can stay on that path if that tax height could backfire. >> he's confident it's working. he has not budged there and wouldn't hesitate to move further into negative territory. he says it's about patience. he's seen the signs. the market is clearly growing impatient, but he's saying with time there will see the results. so he's not concerned at all about all the criticism coming his way. >> akiko, thank you for bringing us that rare interview. always great to hear from a central banker, especially one of the most powerful in the world. >> of course he was saying he remains focused on the domestics situation only, but he would be looking for a hike from the fed. it would ease pressure on him a

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between the u.s. and vietnam erasing essentially one of the last elements of the cold war. but it does not mean the u.s. and vietnam are on the same page on everything, namely human rights. despite lingering concerns about human rights this morning, president obama announced the u.s. is lifting its near decades-long arms embargo against vietnam. >> this change will ensure vietnam has access to the equipment it needs to defend itself. >> reporter: against china explaining the islands in the south china sea and the relicense on russia. the president also announced new investment in vietnam. 100 planes from boeing, engines and electricity from general electric totaling $16 billion. and the white house says 60,000 new jobs. >> new companies and new jobs are being created constantly. so the united states wants to be a part of that.

>> reporter: there are concerns over human rights abuses that will be addressed. >> we need to work closely together to expand our dialogue together and by so doing we can narrow the gap. >> reporter: historic agreements announced today expanding america's reach into one of the fastest growing regions of the world. now the president also commented this morning on the tpp, that transpacific partnership, the trade deal that has been stalled here on capitol hill. he said that he realizes it's an election year and will be a tough one to push through, but he thinks they can still get it done. and vietnam's president talked about it as well saying they stand ready to ratify the deal. >> even though some members of his own party don't agree with it. it's the democrats that have the most opposition to it, isn't it? >> well, there has been opposition really on both sides. you bring up a good point, not everyone, even in the president's party, thinks the trade deal is the best deal, that it's going to work. but the president said this

morning that, yes, there are some things such as currency manipulation they couldn't fully deal with in this deal because of some sovereignty concerns. he thinks that it's the best way to move forward and get the u.s. in a position to take, you know, to rap some economic benefit from one of the fastest growing regions in the world. >> tracie, thank you. when you have bernie on one side and trump -- >> clinton has changed a bit. she's not as against it as the others, but definitely a tough one to ratify. to other political news, donald trump is looking for a running mate. reports say he'll meet today in new york with tennessee senator bob corker, chairman of the senate foreign relations committee. many have said corker is a top contender for the vp job. that will be an interesting little meeting to keep an eye on. switching to golf now, rory mcilroy winning a tournament in his own backyard this weekend. the four-time major winner

taking home the trophy at the irish open, not strictly his backyard, he's an irishman but we'll go with it. he's doing something special with the prize money, he's donating $750,000 money to the charity, the rory foundation raises funds for children who are ill and disadvantaged in ireland. congratulations to him on that win and kudos for the donation. when we come back, this morning's top stories including bayer announcing the $62 billion offer for monsanto. that brings us to the twitter and facebook question of the day. it may not be the sexiest of deals when talking about a seed company, but with a $62 billion price tag, can it kick start what has been a slow year for m&a? we'll bling yring you the resul later in the show. >> what should be sexy? >> technology -- nothing like genetically modified organisms to get us going on a monday morning. >> we are back in two minutes.

good morning. bayer announces a $62 billion cash offer for monsanto. fed speak and speculation. is the central bank moving closer to a rate hike in june? it could be on the table this morning. and trending today, we'll bring you the highlights from last night's billboard music awards show. it's monday, may 23, 2016. and you're watching "worldwide

exchange" on cnbc. ♪ good morning. welcome back to "worldwide exchange" on a monday on cnbc. i'm sara eisen. >> i'm wilfred frost. a very good morning to you as well. futures are holding on to slight gains at the moment. 17 points higher for the dow. last week we saw the s&p just in positive territory, the nasdaq up 1%. the dow was down for the fifth week in a row but the general takeaway is that markets were broadly flat on the week despite talk of an extra rate hike coming possibly even in june. so markets perhaps not quite as spooked as they may have been last week. let's also check out the chart of the morning. shares of bayer and monsanto, bayer offering to buy the u.s. seeds company for $22 per cash,

$62 billion including debt. joining us is nancy hulgrave with all the details. >> reporter: good morning, wilfred. that's right, nothing quite like a $62 billion mega deal to get you out of bed on a monday morning. that's what we have moving in the european session. we'll break down the details what we know about this bid on the table. bayer is offer $122 a share for monsanto. that would come in a tie-up in which the german chemicals firm could see synergies of $1.5 billion. and that would be over a period of three years. the deal is far from over and the analysts have already raised concerns specifically about the financing conditions. this before the details even e merged on the bid. but the company this morning has been quite quick to voice confidence in its own ability to fund the transaction which will be through a combination of debt and equity. but let's give you a view on what the share price is doing here. because it appears as though

investors still need some convincing. yes, there were concerns over the funding but also regulatory concerns are on the horizon there. overall, the stock this morning off 2.8%. when you look at the seven-day view here, we have seen the stock dip on the initial reports that the bid was in the works. i know that cnbc will be speaking to bayer's new ceo coming up later at 6:00 a.m. eastern time. i'm sure they will be putting some of the tough questions to the ceo, werner baumann. >> that's a crucial one to watch on "squawk box." >> the underpinning is a lot of changes in this entire sector. and a 20% plunge until this whole process began for monsanto's share price in the last year. the commodity price fall has really weighed on the seed and agriculture business and so has slow weak gdp growth and the fluxuations with the stronger dollar. all that is making the businesses very challenged leading to this period of m&a.

>> this combined entity would have 30% market share, 25 of global agricams -- still questions, brussels is looking at it. the u.s. will be looking at it as well. but at the moment the shares are responding nicely. monsanto is up 9%. bayer is down 2.7%. they have already declined 10% over the week once the rumors began. the global market picture this morning, we'll show you what happened overnight in asia. we saw declines in japan with the nikkei down half a percent. a stronger yen. certainly that didn't help hong kong finishing lower. but shanghai finished up .60%. we saw a bit of a reversal in europe in the red, now in the green. oh, back in the red. we are all over the place in europe. pretty much flat to open the week. obviously, that deal news making headway. there's also a decline in commodities prices this morning, which could be weighing on sentiment. >> we also had composite numbers

coming in. the markets seem to be fine initially off the back of the data. we have lost steam recently. >> is the data getting better in europe? >> it is a little bit over the -- i would say over a six-month horizon, yes. the last week or so, not. but either way, i just had a big takeaway we said for the u.s. markets, same for asia and europe, not future negative response in the talk of a big fed rate hike. which back at the start of the year we thought markets would be falling out of bed. >> or that they are okay with it. maybe the data is looking good enough. the question about europe is good because the dollar has been strengthening the last four weeks. that's a headwind for the manufacturing companies and the multi-nationals in this country. if the data looks better in europe, maybe the ecb won't ease as much and we can get stability in the currency market. we'll look at the broad markets as well, oil prices turned in another positive week last week.

wti was up 3.3% for the sixth positive week in seven. and they are at $48. gold prices as well for you, we'll look at gold coming up, it's down but fractionally down to 1251. the dollar was a big mover last week, the index almost 1% for the week and strength anything throughout may as we have discussed today losing a bit of ground against the yen, .60%, that has hurt the nikkei earlier today. the panel is remarkable resilient at 1.45 as we approach the vote on whether the u.k. will stay in the european union. it's a busy week on the data front. look for new april home sales tomorrow. on thursday durable goods and pending home sales. friday the first estimate of first quarter gdp an may consumer sentiment. and the earnings season is starting to wind up. look for results from best buy,

hp, tiffany and ambercrombie & fitch. and eric roseengren is one of the big doves on the fed committee throughout sort of this whole process pushing for easy monetary policy, continuing qe, very cautious. so he's changed his tune. that shows the core of the fed is moving. >> and june is on the table if we're not expecting i. corporate news, general electric announcing a series of deals with saudi arabia worth over $1.4 billion. they say this is part of a plan by the kingdom to diversify its economy shares and ge is up a

bit this morning. it's costing you more to fill up your car and truck heading into the summer season. landon dowdy is here with results from the lumberg survey. >> the latest survey is out and the average price of regular unleaded gas jumping 5 cents over the past two weeks so $2.32 a gallon. and prices at the pump have risen 55 cents since late february. the industry analysts say the hike is mostly due to the higher crude oil prices. so what is the city with the highest pump price? san francisco at $2.85 for regular unleaded according to lumberg. but it's a deal in tucson, arizona, at the low price of $1.98 a gallon. landon, thank you. an interesting report in "the new york times" to tell you about. the digital divide is taking a big toll on detroit. "the times" reports that 40% of detroit residents lack broadband access on their phones which is weighing on their ability to find or apply for a job. time for the trending stories, starting with billboard

hosting the annual music awards show last night. the weekend was the big winner taking home eight awards including top hot 100 and top r&b artist. adele won the biggest honor of the night, which was the top artist award. britney spears kicked off what sounded like an amazing show with a medley of her hits. while madonna did a moving tribute to prince featuring stevie wonder. kesha returned. >> i would have liked to see the britney medley. that would be cool. >> that sounded cool. you can go back to watch clips on the internet. >> i'll go do that. >> kesha did a bob dylan remake of "it ain't me" and that was also good. she's been under the radar in her legal fight with her manager. >> are the billboards as big -- not as big as the grammies, right? >> not as big as the grammys but everybody comes to them. >> not everybody. sadly, we didn't get to go. >> all the big pop stars. a new study says lego toys

are leading to more violence among kids. researchers in new zealand say weapons and war-like scenarios are included in 30% of the lego kits each year. this is an effort to keep up to keep the children's attention in the digital age. lego was a very constructive toy for kids to -- >> you didn't have lego weapons when you were little? >> we did but i didn't think -- you can't put a negative spin on it. lego is great. best toys. always played with them. this woman's facebook video showing her trying on a chewbacca mask from kohl's went viral this week reaching more than 100 million people. after kohl's received a, quote, overwhelming interest in the mask, the company bumped the price down from $44.99 to $17.99 putting it on clearance. the mask is totally sold out and thanks to the extra business, the retailer responded to give

candace payne and a few more family members chewbacca masks $2500 in gift cards, 10,000 reward points and tons of star wars stuff. she just bought the mask and tried it on in the car and posted that. >> which is great. very amusing. it's not actually the funniest video. to get 100 million hits that quickly, extraordinary. great for kohl's. >> the star wars fans -- >> it was not that funny. >> you have to recognize the free marketing and the boost in the business. >> it sold out the mask entirely. a great story. still to come, a lot more great stories. today's must reads and an op-ed by boris johnson on the whole brexit. but first as we head to break, we want to hear from you. bayer offers monsanto $62 billion. will this be the catalyst to change the company around? lots more to come.

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welcome back to "worldwide exchange." in "the telegraph" my pick is future britains will find it hard to believe that anyone voted to stay in the eu. this is an opinion piece by boris johnson, the most high profile member of the exit camp in the u.k. it's quite an oddly written article, if i'm honest. he fast towards 20 years and

sort of makes up a text looking at this debate outlining his arguments in the past tense as if he was 20 years ahead and questioning once britain has left, his prediction, no one will say why they wanted to stay in the first place. this is a quirky read for boris johnson. he's not getting much traction in the u.k. he's the most profiled person seen as a political rock star when he decided to back the exit and people hoped he would go with support. i'm not sure he has. he defies opinion more than bringing people together. this article is a good take on that because it's not setting out the argument that clearly. and instead it kind of questions how serious his perspective is on all this. but it's well worth the read. >> what is the strongest point? is it on immigration -- >> i think sovereignty. you can argue against the european commission and rulings that impinge on westminster's ability to make laws of itself.

so i think that is the strongest argument. immigration is one for certain people but not everyone. so both sides kind of are clearer and the economy is the other stronger one. >> my pick is "the wall street journal." in this country or everywhere it's called the high cost of ultralow interest rates. the author is from the federal enterprise institute that leans right but criticizes sharply the low interest rate policies that are toxic for financial stability. they force retired people to curtail spending and discourage the young for saving for retirement. they force people to make risky investments and do not stimulate economic growth. he goes very much into detail about how if you're just graduating from college with debt, making the average salary that an educated person makes and just sort of goes through their life and just shows why you can't save for retirement because of the low interest rates and are not making enough money to do so as well.

it's an interesting one filtering into the campaign trail as well. this sort of populist idea that the federal reserve is keeping interest rates too low for too long and it's not helping. >> it's an interesting question. one that puts a lot of pressure on the political bit as you say, but in terms of the election, janet yellin and the fed, it won't be a top issue. we have seen trump comment a bit but it's not really what people -- it's a bit complicated, exactly. we are approaching the top of the hour and the team is getting ready for "squawk box." joe kernan is joining us. good morning, joe. >> i don't know if you have talked to wilfred about brexit, but sovereignty, i mean, that speaks to you a little, wilfred. i know that. >> it does. >> i know it does. and i don't want to say it was the same situation that we are under in the 18th century, but people chafe when there's an empire asserting its will on

somebody else from a country far away, taxation without representation, not that there's that, but the laws are made by bureaucrats, not by the u.k. not for nothing. you're torn, wilfred. you have the sovereignty but then you got the long-term health of the european union. so you need to make up your mind. and you won't tell me, i know that. >> i won't. i remain impartial. i will vote but i won't tell people how i vote. >> i thought that was a great approach. i mean, boris is crazy, i know that. but i thought it was a great approach. 20 years from now if you look back and say, who in the right mind thought britain should stay? we'll see. >> the problem of the article, joe, in boris' article, he's looking back and saying the vote goes his way. he has so much to do to convince people to vote his way.

that's what i question about hihis efficacy on the campaign trail. >> there are 800,000 votes that will lean toward the less -- not the far right but the guy on the far right was three or four points ahead before you count those. >> turnout will be the big key factor on this because i think the exit camp will gavelize support. >> i'm back to austria now. >> that's being overplayed a little bit. the president's role is more of a ceremonial role than the chance of austria. but it is significant. >> it is indicative of what is happening, not just there but here and with immigration and everything else. anyway, back to the fed, we'll see. it's been eight years, we're almost up 5% unemployment. gosh, i hope they have us ready to go from a whole quarter point to a whole half point. i'm very worried. you talk to mohamed el-erian,

and we have him for an hour. we have the ceo on to talk about buying some american assets on the cheap because of our tax rate. that's about it. >> joe, great lineup. we look forward to that in ten minutes' time. still to come on "worldwide exchange." is a june rate hike on the table? we'll talk to brian belski about that coming up. febreze air effects heavy duty has up to... ...two times the odor-eliminating power to... ...remove odors you've done noseblind to [inhales] mmm. use febreze air effects, till it's fresh and try febreze small spaces... ...to continuously eliminate up to two times the odors... ...for 30 days febreze small spaces and air effects, two more ways...

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what aremaking a cake!ht now? ayla reminds me of like a master chef and emiana reminds me of like a monster chef. uh oh. i don't see cake, i just see mess. it's like awful. it feels like i am not actually cleaning it up what's that make mommy do? (doorbell) what's that? swiffer wetjet. so much stuff coming up. this is amazing woah. wow. now i feel more like making a mess is part of growing up. stop cleaning. start swiffering. welcome back. we saw four weeks of declines for the dow. they have just flipped back into negative territory. they were positive a half hour ago. dow futures down 6. s&p down less than a point. the nasdaq futures barely positive. oil is down 1% or so. a little less than that this

morning. joining us onset, brian belski, good to see you. you are watch iing this today. >> is that spelled with an "s" or a "z"? >> yeah, right. if you take a look at the sector composition, a lot of investors have been using those areas for performance the last several years. we are having a buyout in the fertilizer or the fertz. that is exciting. what do you do about the rest of your holdings, which is a 2.5% to 3% holding in america with respect to the material sector and 10% to 12% in canada. >> could this area of the commodity space still have a structural supply boom? i'm sorry, demand and --

>> before letting it slip, that's a good point. the problem with materials for our fundamental perspective is we are transitioning from supply to demand realities. given the fact that global growth and what is happening in the emerging markets will be slow for a while, we think we take the gains here we have seen in some of the areas accessbibl. >> is there a reason to switch out of these areas from what we first thought? >> well, the issue is we look at things over the 12 to 18-month time period and really three to five years as we try to build longer-term portfolios. the question is over the last 15 years, we think we're heading into a rising environment that

will clearly hurt utilities. some names will continue to facility positive fundamentals, but as a whole we remain structurally unsound. >> what do you think of the banks? >> we love the banks. we are seeing a generational opportunity to buy scaleable business models within the u.s. financials and we love the canadian financials as well. >> on that note, do you like technology now and the idea of rising rates and bigger economy. >> the we think this has been the easiest area for portfolio redemptions. apple under $100 is a place where you should be adding given the fact from the longer-term basis, this is a caterpillar type of stock. given the fact it's a great combination of growth at a reason i believe and we know more and more companies are

paying dividends. >> earnings were gloomy on the tech front. >> we are heading into a summer period where tech always slows down. so that area overall will be one investors want to add to on the pull-back. >> quickly, do you think the pri prices will slide on oil? >> we believe there's a multi-year trading deal in oil. we think you want to cops trance on the -- >> lower or higher? >> 2100 is the target. i'm planning on that. >> thank you to you, brian belski. what are you watching? >> i'm going with brian watching the materials. and when do we get to watch that $62 billion on the fertilizer business? >> similar for me.

i'm watching that and "squawk box." that's it for "worldwide exchange." have a great morning. show me movies with romance.

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good morning. breaking overnight, bayer announces a $62 billion for monsanto. and we are still on fed watch. jim bullard is speaking in china. we'll monitor the comments and bring you the highlights. and still using this, your money, your vote. a new poll finds the race for the white house narrowing to a dead heat. but you wouldn't find that out in the first 219 words of the washington post story. it's monday, may 23, 2016.

and "squawk box" begins right now. >> live from new york where business never sleeps, this is "squawk box." >> good morning, everybody. welcome to "squawk box" on cnbc. i'm becky quick along with joe kernan and andrew ross sorkin. the dow was down for the week but the s&p was slightly higher and the nasdaq saw a bit of a rally last week. you can see the futures are under pressure with the dow futures down by about 22 points below fair value. s&p futures off by 2.5. and the nasdaq down 5.5. overnight in asia you saw green arrows across the board. overnight we saw better news out of japan and hang seng. the market closed for japan down half a percent. the hang seng down .25%. the shanghai was up .60%. check out the early trading in euro a