good morning. happening now, oil prices under pressure ahead of this morning's opec meeting. selling shares is, alibaba's biggest shareholder is dumping at least $7.9 billion of the stocks. the reason behind that decision, coming up. and the future according to jeff bezos. the amazon giant speaks out on his company, artificial intelligence and the race for space and much more. it's wednesday, june 1st, and "worldwide exchange" begins right now.

♪ >> a very good morning to you and a warm welcome to "worldwide exchange" on cnbc. i'm wilfred frost along with dee. let's get straight to the market action and bring you up to speed. yesterday, we saw the dow slip about .5%, but it just hung on to gains for the month of may, gains for the s&p over 1% for may and for the nasdaq, over 3%. the tech sector was the best performance and today, giving up a bit of that positivity. the dow currently lower by five or six points. we're looking at the ten-year note this morning. let's have a look at that yield. we're looking at a 1.83 had%. so down a lot bit over the last 24 hours. a little bit of bond buying. >> wilfred, it is already up.

just talking about this before the show started, but -- >> pinch and a punch for the first day of the month. that is a phrase i've not heard had over here. >> i like it. a pinch and a punch -- >> for the first day of the month. usually i would do that and pinch and punch you. >> we can ski that. let's take stock of what happened in may. the dow posting its fourth positive month in a row which makes it three perform. apple was the dow's biggest gainer, up 6.5%. and that comes on the back of some softness. you are definitely seeing a recover there. wonder if that can continue. >> absolutely right. let's get to the global picture this morning. a few headlines out of asia overnight. a mixed picture for chin he's manufacturing activity, the official factory activity gauge expanded passengerally for the straight above billion.

conditions deteriorated for the 15th month. in japan, reports say prime minister shinzo abe told a meeting of lawmakers he would delay a sales tax high until october 29th. lots of speculation that that delay would come in, though. in australia, gdp rising 1.1 in the quarter. in yen, there's a lot of yen strepg. elsewhere, you can see just below flat for hong kong and shanghai. as for europe in early tradeling, we're looking at slight declines. we're now down to 1%. partly we've seen eurozone manufacturing. 51.5. that was the same as a flash establishment a few weeks ago.

i also have europe's losing steam in this powerful month of may. and we're watching oil prices closely this morning. opec minister res meeting in vienna tomorrow. a few headlines coming in from leader among them. the uae oil minister says, quote, it is already correcting upwards. meantime, reporters are reporting we have a de facto save already as global output is steady. so take a look. wti is currently sitting at 48.44 after. so topping $50 a barrel last week. and investors are still rel cat brating, looking ahead to that opec meeting. some of the latest comments adding fuel to the spots that we are probably not going to get anything. so you're seeing oil across the board weaker, wti and brent this morning. so where do prices go from here? the ceo on closing bell

yesterday. >> the move going back, and by the end of the year. i moved to the last 55, 60. something around that. >> somewhat of a different opinion from cnbc contributor dennis gartman. >> i'm considering being short. i know for a fact i don't wish to be long. that's one thing. and that's a bit of a change. if i'm going to do something soon, it's probably to be a seller. but am i going to be aggressive with it? not really. >> let's have a look at broader markets this morning. the dollar having a very strong time during the course of may. the index ended yesterday, up 4% and it is up 3% for may ar a

whole. bear that in mind when we get back, over 3% for the nasdaq in the face gain for the broader zone. today, the main mover, as you can see, is the yen strengthening by . 7%. a big reason, of course, for that nikkei weakness. gold prices, as well. we're looking at gold this morning rising, but only by ten basis points to 1218. the first month goal has lost ground this year, so it's been an amazinging rally. but 6% lower in the month of may. so who knows. >> in the face of the dollar rising, so it is surprising. the calendar, may construction price index is out at 10:00 a.m. eastern. follow by the beige report meat numbers as for this morning and

throughout the afternoon. look for earnings from michael kors, and lands' end and before the open, crowd score storage provider box is after the close. japan's softbank is selling at least 4.9 alibaba shares to raise capital. it will drop from about 32% to 28%. meanwhile, sherry redstone says she has no desire to manage viacom or charities board. her statement comes from a letter of viacom's six mountain environment. last week, a spokesman for red deny stone said the media goal was considering ousting aman and the board of directors. >> well, you would have to study to better than expected

billings, but by a smarter margin than in previous quarters. under our most cutting of sales guidance for the year citing sports authority bankruptcy and lick dade. the athletic apparelmaker says it will only realize about .25% of the revenue and it will take a $23 million charge. staples ceo will step down after the company's annual meeting on the she of june. the move comes three weeks after a federal judge ordered to halt the company's measure with office depot on antitrust concerns. sashlth will stay on as chairman until january. it's just about flat in the markets. boyd gain sg selling its 50% stake in atlantic city each top casino. for $900 million. boyd will receive half of any future tax settlement mgm reaches with the town.

the borgata has been the best performing casino since it opened. tivo adding new subscribers, it's in the process of being acquired by digital entertainment technology. and asna third quarter sales missed forecast as customer traffic declined. the owner of dress barn, ann taylor, the company blaming the weather. its was an unusually cold spring following the unseasonably warm holiday shopping season. we get a look at the auto sector today. we have three key things to watch. >> good morning. may auto sales are expected to keep the industry accelerating at a record pace this year. here are three things to watch.

first, the numbers. analysts expect another strong sales rate at 17.4 million units. economist mark cameron saying the month of may had fewer weakened sales and that could benefit the numbers year over year. second wab while sales numbers may be strong, incentives are raising questions as to how good the markets really are. and the third thing to watch, auto stocks. while sales have been strong, the sector has passed over the last few months. so any disappointment in the numbers could have ceos putting on the brakes. tech leaders are gathering in california for the annual code korns. last night's headliner, jeff

bezos. the amazon boss is certainly bullish on special protection. i think are some of inner -- it is big. it is -- it doesn't mete mean that, you know, phones are going to go away or anything like that. >> no. >> it's not like voice interfaces are going to replace screens. >> bezos says am zone has a thousand people voted to this area. echo has been selling well, let's people ask questions, play music and order groceries. as for other future projects, bezos hinted at amazon getting into the wearsbles space. >> i think it's a super interesting market and, of

cour course, i do think that's -- i think that is also in its infancy. i think you're going to see a bunch of different products be successful there in -- with different functions and -- but i don't think you've seen the tip of the iceberg yet. >> we'll have more from the conference of the day on cnbc. but, you have to wonder, is that going to be a watch? give us something we don't expe expect. >> you can get a british dairy, right? i don't know. i never work when i try that. it's interesting that he says we're not there yet, but it's going to be absolutely huge. >> apple invest iing in the spa,

too, saying they were going to pump up seri and create echo. it's a space on we need to watch, certainly is. >> i protect we need a british version, something like alfred or something like that and then you can recognize must voice. >> i think that could be. that's a good idea if you're watching. still to come here on "worldwide exchange," it's 23 days until the uk votes whether to remain in the eu. more of the players you need to know about, coming up. gm would exit chapter is 1 in that year, but it would take gm more than four years to repay its loans and for the u.s. treasury to finally sell its stake in the company. show me movies with romance.

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what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. a very good morning to you. welcome back to "worldwide exchange." we finished in positive territory for may, all three incidentsies were counsel just eking out a gape. the s&p was up over 1%. the nasdaq was up over 3%. today we're just giving up those gains the nothing too pronounced. a wee bit of oil pr1áut()átááh % today, as well.

let's get to today's trade of the day. history suggests a negative hash inger for the stock market in june. but have no fear. there are some stocks investors can hide out in. these stocks perform well over a 30-day period. mana, alaska air, and united health. on the flip side, though, economically sensitive firms, commodity, real estate and financial sectors fall hardest. for more, go to cnbc.com and check out cnbc probe. the oecd is becoming more optimistic about the economy and warns the low growth trap will continue if governments do not change course on spending and trade. the oecd identifies brexit as a threat to growth. it would substantially press

growth in europe and elsewhere. >> so who are the main political players? let's explore that. heading up the remaining sight is the hard of the uk government, prime minister david cameron and george osborne. they've been effective in recent weeks in high litting the economic issues of a brexit. this tactic has been dubbed project fear, which is helping to accuracy their lead in the polls. they are, in fact, united with the bulk of the labor party, including jeremy corbyn. people aren't really focusing on that. adding to that significant credibility, there is the fact that the past prime ministers, tone know blair, gordon brown, are all on cameron's side. let's move on to the exit side who got a huge boost in january,

stating he was a baseball dealership. they're joined by ian duncan smith. now, this referendum wouldn't even be happening without the work of the uk independence party nigel farrage. now, despite the stages, johnson has added to the exit. although, that said, the gap has narrowed in the last week. it was 46 to 41. it's now 46 to 43. so a lot to play for the for the vote coming up on june 23rd. if you're getting closer and closer to that referendum, it will be interesting to see who

comes out in the lead. shares suffering the worse interday drop on tuesday after the police accused the ceo and two executives of wrongdoing in a sweeping tax probe. in a state, bradesco says it has been acquitted in prior cases. the company denies the ceo gave the go ahead to negotiate with people who promised to work out a sign. a third body canvas about to challenge donald trump? that's the story you'll be hearing next. here is today's national forecast from the weather channel. >> let's take a look at the forecast around the country. the only trouble spot is in the central and southern plains,

especially dallas. we're talking about some unbelievable flooding out there. very dry conditions out to your west. the chance of thunderstorms, maybe seeing some storms. atlanta, 92 and a chance of storms also through miami. building up for parts of the desert southwest, backs into phoen phoenix, we're talking about temperatures very, very warm. 69 degrees, the high in denver. 80 degrees in chicago. 92 in atlanta. the humidity is back for you in atlanta. things are coming down a little bit as you get to the afternoon with the showers forming. that is the latest in your forecast keep it here on cnbc. and 3% back on gas. kenny used his bankamericard cash rewards credit card to join the wednesday night league. because he loves to play hoops. not jump through them. that's the excitement of rewarding connections. apply online or at a bank of america near you.

you gein your car. odors you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy.

welcome back to "worldwide exchange." a baby with related birth defects has been born in new jersey thj. the hospital confirming the birth on tuesday. the baby's moef mother contracted the virus in another can country and the baby was born with an abnormally small brain and head. health officials have been monitoring nearly 300 women in the u.s. with zika. to politics and donald trump now faces some new competition for the white house this fall. could a third party candidate can draw away just enough support to hurt trump's campaign? tracie potts joins us now from washington with the latest. tracie, is this an option for the never trump, never clintons?

>> right. this general election, what we know at this point is whoever wins on the democratic side, they're battling it out in california. whoever comes out on top, whether it's clinton or sanders, this is not going to be just a two-person race in the fall. there are new faces in the presidential race. libber taip tearan and former new jersey governor gary johnson with his running mate. >> neither of us have any intention of attacking trump or hillary. >> and nbc has confirmed national review writer david french is considering an independent run. i know for a fact a lot of republicans are throwing in for donald trump because they feel like they have no option. >> you can't win as abdomen independent. >> hillary clinton is focused on w winning california. >> i'm feeling, you know, very positive about my campaign b in california. we are working really hard. i was proud to get governor jerry brown's endorsement.

>> bernie sanders says she's only ahead because of superdelegates who supported her even before the primaries ever started. >> it's an unfair system, a delicate testimony and it's a system we will change. >> and it's a system that gave a hundred. so she has a much more significant wleed. sanders says those superdelegates, many of thome signed on early and they could change their minds depending on the way california and other states go. >> i wanted to ask you about this libertarian alternative. how much support does the candidate need to garner to be a viable competition to trump or hillary? probably around 15%. but, you know, in some states are they even going be on the ballot is the question donald trump is asking. so the issue seems to be not so

far can siphon enough to leave them with hillary clinton or donald trump o others said. now, still to come on "worldwide exchange," this morning's top stories. plus, a new ride sharing service ames to shake up the fast growing market lend ago challenge to bigger rivals like uber. we'll speak to the juneau in a few moments. you get use to pet odors in your car. you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy.

♪ "dinner!" "may i be excused?" get the new xfinity tv app and for the first time ever stream live tv, watch on demand, and download your dvr shows anywhere.

good morning. happening now, oil prices under pressure ahead of this week's opec meeting. we'll tell you what some members of the cartel are saying today. disrupting the disrupters. we'll talk to the cofounder of a new ride sharing service taking aim at uber and lift. and new this morning, elon musk says the charge for your new -- may cost you. we'll explain why. it's wednesday, june 1st and is we're watching "worldwide exchange" here on cnbc. a very good morning to you. i'm wilfred frost. >> and it is a first day of june. we can't believe we're nearly

halfway through this month. let's get you up to speed on the markets this morning. this will be the new trading day of a new month. take a look at futures. we were looking at a lower open today. we did see some gains with 1.5% for the suspect..suspect. did dow jones managed to just squeak out a gain of 1%. but the nasdaq was up over 3% for the month. let's take a look at treasury yields. this will be important especially as we lead into the june meeting. on the back of comments that we could potentially see a hike this summer, we did get some mixed economic data yesterday. especially with expectations further out towards july. we did see yields fall from multi week highs yesterday. the dow pointing its fourth positive month in a row while the s&p makes it three straight months of gains. the nasdaq now to a five-month winning rub. tech was the best performing sector in may and.ael was the

dow's biggest gainer, up 6.5%. which brings us to our current question of the day, can tech keep up its momentum in june. weigh in on facebook and twitter. we'll bring you the results later in the show. meanwhile, let's get a check on global markets, as well this morning. take a look. we did get manufacturing data. other than that, we are seeing a weaker start to the month. but some solid gains in these markets. germany's dax down about 1%. a little bit of weakness as we start off this first day of a new month. let's take a look at asian shares. japan is one to watch out for. we have seen the yen strengthen somewhat after some weakness. and the japan's nikkei is down 1.6%. and the shanghai composite coming off some big gains yesterday. we had pmi daddy that was in line, but the private survey was weaker. so that's -- you know, wonder if

we're going to see the chinese economy and worries about growth flare up again as we head into this month. >> oil, of course, front and center this week with the opec meeting coming tomorrow. we are losing a bit of ground, 1 many 6% he. but for oil, pretty strong last month. it was up 1.6% over the course of may. let's have a look at the dollar. the dollar itself, very strong in the month of may. the index up 3% today. it's not moving too significantly, other than against the yen. look at that. the yen has extended its gains to almost 1%. a reason why the nikkei was set this morning. gold prices, they suffered in the face of a strong dollar last month. today, we're positive but only fractionally at 1218. let's move on and move over uber and lift. that's the message from newcomer juno which was officially launched in new york city.

join i joining us now in studio is talman marco, co-founder and ceo of juno. he was almost founder of a messaging app. thanks for being here. >> good morning. thanks for having me. >> you claim to treat your drivers and your employees much better than the likes of uber. how is that? >> we're doing several things across the board. we are giving them equity in the company, so drivers own 50% of the shares of the company, so they're not just working with us or for us, they're actually partners. that's one thing. we're taking a lower commission, which means they get to take more money home. we're allowing them to take tips integrated in the app and the overall treatment of our drivers is much better than our competitors. >> and just not --

>> so far we have i believe 8,500 drivers here in new york, which means we're the second largest next to uber and we're only getting the best drivers from uber. >> you seem to have a great proposition for driver. but why as a customer would i go to you guys especially when you're often the same price as uber and lift, right? >> exactly. first of all, the proof is in the pudding. we're not even fully launched in new york. and since allowing some -- to get in, we have several thousand rides a day, which is significant given the size of the competition and the amount of work we put into it so far. and you look at the rating, you look at the rating that passengers are giving by drivers. it's 4.92, significantly higher than our competitors. you can look at the various stores. 4.8 on google play.

passengers love us. >> you make the case you treat drivers better. long-term, the likes of uber and is lift seem to be pointing towards driverless cars. do you think that's the way it's going? what does that mean for the drivers. at some point, we are looking at the future in the same way. the difference between us and the competitors is what happens on that day. if you're driving for any of our competitors, then you get deactivated. they just throw you away. with us, when we no longer need your services, you have built equity in the company. that means you continue to enjoy the fruits of your labor as a shareholder. that's very different. >> how many years are we away from that, from driverless cars taking over? >> i don't think anybody really knows that. a decade, you know, a few years left, a few years more.

>> let me should affect you. >> i think the question is not whether it's unionized or not unionized. to be unionize, you need to be employees. to be employees, you need to offer exclusively for us. >> i can what's really important is how we treat drivers, whether they are unionized or not unionized. >> and you've only been launched for a couple of weeks. 8,000 drivers. how many rides a die are you doi doing? >> her. so we haven't released an exact numb number. >> thanks very much for joining us this morning.

talmam jarrko with the liekts of ieber. the company's annual shareholder meeting, they said it will be very a cheep and far cheaper with gasoline to drive the fuller distant. this is the first time tesla has stated this will know about the british voice for life. >> absolutely. it will still be cheaper that sort of assumed this will be par of it. >> yeah. and he that will be interesting to see the follow out or, the

israeli start up fear last, officially laurchbling its super high end smartphone today, the basic model priced at 14$,000 the, features military grade security. of course, international elite. 2 million in funding to launch this first lineup on switch has been in development for more than two years. you know what? there is your opportunity there, will. you need to do the accurate -- >> i'm always that. you know surely the impressive amount within but it's nothing compared to.apple. what about the technology? they can't be as good with all the options. >> i have never understood that. i look at those virtual phones and some of them are covered in diamonds. i think that's great, it's a nice accessory, but with the

technology, what does it use? >> anyway, good for you if you've got a this time, the presidential candidate responded, and claimed "pea an youman" described his love your music. >> entertainers, certainly, that's one thing you can say. coming up, today's must reads. but first, as we hoed to break, you are wishg to at 57 milli$57, despite only playing 22 shows. i saw one of those shows about two years ago. they're headlining the desert trip back to the dollars.

wi "worldwide exchange" back in a couple memberships. what are you doing right now?

making a cake! 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. good morning and welcome back to "worldwide exchange." a few stories catching our attention, my pick is from the "new york times," it's titled politicians and the lies that matter. thomas freed heman writing, but while hillary struggles with the

whole truth on certain inches have garnered those with the negative, trump and sanders will be getting away with some full bugger king double womaners that will come crashing down on the whole country. freedman writes not all lying in politics is created equal. and his argument is her lies are more personal while trump and is sanders lie about things that can really affect the country. >> and once it becomes a two-horse race, each candidate gets called out a little bit more for their lies. people kind of find it hard to pick out the possible lives, as it were. dos lass write it's hour though

this snol the foye, ya i st. louis kaernt believe it, it's an interesting look at how california could change the sentlity. if bernie would win, could that change the minds of some already decided superdelegates. it's certainly giving the momentum behind and it's a significant slowdown. >> and the fact that this question is even being asked at this point in time when clinton has been the productive nominee among media and commentators alike. of course, i was how the republican convention was going to be the divided one want could it still be the case? it hardly seems believable. right. let's switch focus. our twitter kwven this morning off the back of a strong may for the tech sector. for us, the way of that sector

will. we'll discuss it with a ubs money manager and see what he thinks. you get use to pet odors in your car. you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy.

to buy a new gym bag. before earning 1% cash back everywhere, every time. 2% back at grocery stores and now at wholesale clubs. and 3% back on gas. kenny used his bankamericard cash rewards credit card to join the wednesday night league. because he loves to play hoops.

not jump through them. that's the excitement of rewarding connections. apply online or at a bank of america near you. good morning. we're approaching the top of the hour and that means "squawk box" is coming up. >> obviously, the end of may, we saw what happened with the nkts yesterday. the dow was down, but still managed to eek out a gain for the month. that is big news. four months in a row now of gains for the markets. we will be talking a lot about the markets this morning. we have a flurry of market gets who are here, david cats, kevin la landis digging through what it's

expecting in june. obviously, we have the fed meeting coming up. just a little later this month, next week. we're going to talk a little bit about that. we'll be talking a little bit about what we've seen in politics. we have a special guest host for an hour today. mitch mcconnell, the senator majority leader. and dig deeper into what's happening in the senate right now. things that are happening in washington and maybe some areas where you will see some bipartisan support for different initiatives getting passed. also going to be talking today about the code conference that's happening in california. i think you guys mentioned this. jeff bezos talking last night. we have a team of reporters covering everything there. but jeff bezos, whether he's building infrastructure for amazon, what that might mean. we have a lot of interesting highlights from last night's kickoff address by jeff bezos. >> thank you, becky. >> thanks. now, japan's softbank is

alibaba's largest shareholders. its stakes will now drop from 32% to 28%. >> meanwhile, shari redzone says she has no desire to manage viacom. >> let's get a check on markets again this morning. futures this morning are pointing to a weaker open. this after -- i guess he could call them solid gains for the s&p 500 and the nasdaq, the dow jones eking out about .1% in may. of course, speculation, lots of investors, expecting a hike in june or july. oil prices are a big factor. big market factor. we've seen some weakness since oil prices hit $50 a barrel last week. we're seeing wti at 38 cents a

barrel. we continue to watch this, especially as we have that opec meeting tomorrow. no agreement is expect, but let's get some more on these marke markets. joining us now is allen. portfolio manager at ubs and adjunct professor. we're starting off a new month. we saw a decent may. are we seeing things shift a little bit? are the markets starting to get wary of a rate hike? >> i think you see a little bit of volatility now. but the markets are calm because they are expecting a to stay on a path that they described which is raising rates in an accommodative way. raising rates while still keeping long-term rates low. >> the dollar was up 3% in month of may. the nasdaq caught up and the s&p, as well. a strong dollar over the last

year or so has been very bad equities. how much longer can that hold, that duo of correlation between the two? >> so the strong dollar is an important factor with what's going on in the stock market. but i think the markets are extremely focused on the federal reserve right now. everyone is talking about whether the fed will hike interest rates in june. the reality is, even if the fed does hike interest rates in june, they can still keep the long-term rates low. if you look at the balance sheet of the fed, they continue to reinvest the principal and interest of those coming off the balance sheet. they're buying bonds. >> i'm wondering, though, the last time we saw rates get hiked, that was in december. the markets were prepared for it and everything seemed fine at first. then january hedged and then we saw volatility. do you think that can happen again if we saw a rate hike in june or july? >> i think that's exactly what the fed is conscious of.

and you'll see the feds talk of the markets. the markets are in a very good position right now because the fed wants to normalize, wants to demonstrate that the markets are normal. and at the same time, they want to keep interest rates low on the long end of the curve. and there's a big question about the fiscal picture. carl icahn was on cnbc recently and said everybody is set with this $19 trillion deficit. a $19 trillion deficit requires $402 billion of interest to support it. if you look at the history of the deficit, in 2007, the deficit was $9 trillion and we attained $430 billion of interest. so we are in pretty good shape, even from a fiscal picture. where if you have the fiscal pill all right and -- >> and interest rates remaining low where they are? >> that's what the fed i think will focus on in order to if a

tate accommodative policy in normalization. >> that's a big part of debt, that you have to keep rates low. >> that's exactly what the federal reserve is trying to do. and i think they're thinking like you are, which is they want to normalize, they want to raise the fed funds rate and sam fishes said recently that the balance sheet with the accommodative policy while they normalize and they will continue to keep interest rates low on the long end of the curb while they normalize the fed funds rate. >> what are some of these other risk factors that played such a big factor? the chinese economy, right? all is not done. we got some okay data overnight. we have the brexit coming up as well as a u.s. election. what do you think for the rest of the year, are markets going to become volatile on some of these things? do you expect them to flare up

again? >> in terms of the brexit, i think the brexit really reflects a global shift in this lack of desire for the status quo. we see it in the politics here, we see i tell in the politics abroad. and i think that's the real question is why aren't people happier? you had beautiful number hads coming in on employment. the wage numbers may not be as robust as we would like to see it, but people don't seem to be happy. >> oil prices, great strength during may. they're up again this morning. what's the main focus for that opec meeting? >> the importance about the oil price is its impact on the inflation picture. the federal reserve has said for some time that crude oil prices being low is not your long-term thing. and i think that as long as you

can keep interest -- if you keep crude oil prices at a stable level, around $50, that would help the economy overall because then you'll start to see the inflation picture normalize. >> allen, thank you very much for joining us this morning. >> my pleasure. thank you for having me. let's get to the results of our twitter and facebook question. we asked you if tech can keep up its momentum after being the strongest secretary isser in may. and 359% of you say yes. 31% responding no. so on the avenue momentum behind that question. >> yeah. and that's a decisive decision there, i guess, by the people we polled on twitter. >> and the nasdaq, of course, the strongest of the three main unsies during may. we have about a minute or so left. what's keeping you watching ahead today? >> i'm watching more u.s. data because it will be so important leading up to the jobs report and the fed meeting.

>> and keep an eye on "squawk box." mitch mcconnell will guest host for a full hour. well worth watching that. that's it for "worldwide exchange." "squawk box" coming up next. thank you very much for watching. have a great morning. live 24/7. with 24/7 digestive support. try align, the #1 ge recommended probiotic. you gein your car. odors you think it smells fine, but your passengers smell this. {ding} eliminate odors you've gone nose blind too, for up to 30 days with the febreze car vent clip. wow, it smells good in here. so you and your passengers can breathe happy.

good morning. i'll prices are under pressure ahead of this week's opec meeting. major average hes, extending their monthly winning streak in may, barely. the tech stock leading the way. this hour, top technology picks for your portfolio. plus, we'll talk to the founder of a bc firm managed entirely by millennials. and new this morning, elon musk says tesla may charge drivers to charge. details, straight ahead. it's wednesday, june 1st, 2016. and "squawk box" begins right

now. good morning, everybody. i'm becky quick and this had is "worldwide exchange" on cnbc. the dow closing for the fourth positive month in a row, but just barely. within points of finishing flat and potentially closing down for the month. the s&p now has three straight months of gains and the nasdaq is now on a five-month winning run. technology was the best performing sector in may. and apple was the dow's biggest gainer. it was up by 6.5%. check out the u.s. equity futures this morning. it's been a slightly weaker picture this morning. as we see the futures, it looks like the nasdaq is down below fair value by