breaking overnight, the u.s. launches dozens of cruise missiles at a syrian airfield. geopolitical concerns sparking a jump in oil prices. a round up of the trading picture. and a u.s./china summit. president trump is meeting with his chinese counterpart later today. a live report from mar-a-lago where it will be taking place. it's friday, april 7, 2017. "worldwide exchange" begins now. good morning. welcome to "worldwide exchange" on cnbc on a busy news day

friday. i'm sara eisen. >> i'm wilfred frost. good morning to you from me as well. the top story, u.s. warships in the mediterranean fired 59 cruise missiles targeting a syrian air base overnight. the base was the one used to launch tuesday's chemical weapons attack that killed syrian civilians. a syrian official said the missiles caused material damage to the airfield. michelle caruso-cabrera will have much more on this story, including what president trump told the nation about it last night. that's coming up in a minute. first, let's check on the global market reaction at this hour. >> we did see a market jolt across assets and across the world. u.s. equity futures initially dipped on the news. they have since recovered a lot of lost ground. dow futures are down 15 points. s&p down 2.5. nasdaq futures down a little over 4 points. more subdued reaction as the dust settles. big reaction in the price of

oil. syria not a -- >> that is the intraday chart for the dow, with that nightmarish moment last night when the news broke. you saw the fall, then the recovery. >> we saw a jump in oil prices, gold prices. no immediate supply threat to oil, but clearly any escalation of tensions in that region in the middle east, there is the intraday chart overnight. where you saw that big jump on reactions to the headlines sparking a rise in the price of oil. >> we should mention on oil, an rbc analyst says not an immediate supply risk but the strike will spark fears of a wider middle east military entanglement. so a jump of about 2%. on a back where oil has led the market higher. up 2% for the whole, and up again today. the best performing sector is

energy, 1%. telecom markets are the worst. the dow pretty much flat coming in today. returning 0.00% for the week addreas a whole. asian trade rounding off a soft week. flattish at the moment. japan slightly higher. japan is down over 1 % for the week as a whole. hong kong and shanghai flat. european trade negative for the week. all of the major markets in the red, but less than 1% varying levels. the dax is a laggard. the ftse 100 outperforming for the week. all down for the week as a whole. rounding off the week with a negative tone. half a percent of declines for germany. down more than a percent for the week. >> i mentioned the rush to safe havens in the japanese yen, and also the ten-year treasury note yield. fwan, o again off the worst levels of the session.

earlier it broke around 2.30. we are hovering around there. we have a jobs report later in today's trading action at 8:30 a.m. economically sensitive. but the immediate knee-jerk reaction was to buy safe haven assets. this is the currency board. you saw that where the japanese yen sort of rose on the news. again that settled down a bit. we're at 110.70. the euro is a bit weaker. fractional moves. the russian ruble. the ruble had been at the highest level since september or july of 2015. there's the intraday chart. there is the spike in the dollar, weakness of the ruble. >> just stepping away from today's development, the story of the week for the dollar is that the dollar was up slightly yesterday. clearly up again today apart from against the yen. up about 0.3% for the week so a

marginally positive week for the u.s. dollar, despite yields slipping. last week, we ended friday on the ten-year note, 2.4. dipped below 2.3. this morning just above that level. so that correlation for the first quarter where we saw yields slip and the dollar slightly higher. >> worth noting that gold prices are stronger. they did jump in immediate reaction to the headlines overnight and still up about a percent. dollar strength, gold strength, yen strength. let's talk more about the top story, the u.s. launching dozens of cruise missiles at a syrian air base after a chemical weapons attack. michelle caruso-cabrera joins us on set with the story. good morning. officials say two u.s. warships, the uss ross and the uss porter in the eastern mediterranean sea fired 59 tomahawk missiles last night intended for a single

target, an airfield in al shayrat in homs province. the united states believes that's the airfield the syrian government of bashar al assad used to deploy chemical weapons earlier thisages were seen acro world. there was no immediate word on casualties. u.s. officials told nbc news that people were not targeted and that the aircraft and infrastructure at the site were hit. it was the first direct american assault at the syrian government. president trump spoke last night from mar-a-lago . >> on tuesday, syrian dictator bashar al assad launched a horrible chemical weapons attack on innocent civilians. using a deadly nerve agent assad choked out the lives of helpless

men, women and children. it was a slow and brutal death for so many. even beautiful babies were cruelly murdered in this very barbaric attack. no child of god should ever suffer such horror. >> the response in congress did not come down along partisan lines. well known hawks such as john mccain and lindsey graham supported the president. libertarian rand paul said the president should have gotten congressional approval. democrats nancy pelosi and chuck schumer issued statements supporting the president but said further escalation and he would need to consult with congress. the president himself back in 2013 when president obama was considering bombing the syrian government tweeted this, the president must get congressional approval before attacking syria,

big mistake if he does not. russia was unsurprisingly negative about the missile attacks calling the u.s. attacks an act of aggression. >> with what comes next for the u.s. and russia relations? is the honeymoon over. i mentioned the ruble price under pressure. >> even before this we had seen statements out of the russian government in the last few days saying the relationship between the two countries was at a new low, which is a strong statement considering how bad they will been -- they had gone under president obama. clearly there's been a shifting in position by the u.s. government under donald trump from when he was running for president to where he stands now in terms of our relationship with them. >> two questions about timing. one ahead of this chinese president's meeting today. does that alter the tone of that? the other thing, this is more nuanced, this week, we saw steve bannon removed from the national security council. is this a victory thereforefor

oth therefore for members of that? >> yes. the timing along with the visit of president xi from shichina a is showing the chinese government that this administration will take action on its own, when it wants to, whereas president obama would try to seek international support for the same attempts back then. what's going on behind the scenes with regards to steve bannon, hard to know. but ultimately you have the military in charge of this process. >> to your point about what comes next is difficult. he's receiving praise from both sides of the aisle, for making this move, taking this step, for the punishment of it. now it's an act of war. we're embroiled in a conflict directly with syria. >> he also made clear once again that regime change is the goal of the u.s. government. bashar al assad he doesn't think

should have the leadership position there. the russian response will be, okay, what comes next? if bashar al assad is gone, who fills the void? do you have another libya on your hands? that's been their response. >> more broadly do people step away from this and say, all right, this president is more interventionist versus isolationist? >> i think that's the discussion that will happen now. some people will feel, when they felt he was somebody anti-war, maybe now perceived quite differently. >> his presidency less than 100 days in, taking an unpredictable turn here. as mentioned, the march jobs report looms large. here are the latest forecast, increase of 175,000 jobs, that's the non-farm payrolls estimates versus 235,000 in february. unemployment rate seen holding at 4.7%. the wage number, average hourly

earnings expected to rise 0.2%. in addition to the situation with syria and the u.s. jobs report, wall street will be closely watching today's meeting between president trump and president xi jinping. kayla tausche joins us live from mar-a-lago the site of today's event with what to expect. good morning, kayla. >> reporter: good morning. i'm just down the road from mar-a-lago where the president sought to put his test diplomatic foot forward even as the white house was pursuing military action in syria. the first introductory meeting between president trump and his counterpart, china's president xi jinping, and their first ladies, dined with others at mar-a-lago . a relatively informal opening event kicking off 24 hours of meetings between the two countries. it was the third state dinner for china that the u.s. has held in about six years. and previously president trump had criticized the obama administration for spending money to entertain an adversary,

but he seemed to be in a friendly mood last night. >> we've had a long discussion already, and so far i have gotten nothing, absolutely nothing. but we have developed a friendship, i can see that. >> you asked the question earlier whether this changes the messaging to china from the u.s. government and perhaps it will. previously president trump was approaching this week's meetings from a position of legislative setbacks in washington. now there's the opportunity for him to approach these meetings from a position of military strength. senator marco rubio of florida echoed that sentiment last night. >> one thing to be a presidential candidate. it's another thing to be the president and confronted with that reality. i think tonight was a part of that. >> president trump, president xi and their counterparts will have

a large bilateral meeting this morning followed by a working lunch. interestingly there's a report from a china news wire saying that president trump has already accepted an invitation from president xi to visit china on a state visit later this year. we will be watching any developments and any statements that the administration has about that attack overnight in syria. >> kayla, can you dive into what we can expect more today? are they taking q & a? are there going to be joint news conferences? so far it seems like a big, whew, for investors who were worried about a more confrontational tone. so far it looks friendly what are we in for the rest of the day? perhaps that's because the news of the developments in syria has taken their eyes off the nuances that will be happening in these meetings between the two presidents. there are no formal press conferences as of this moment that are scheduled. we've been told at some point there will be some availability

to ask questions. at this poeint it's unclear, depending on how those meetings go, if there's progress in those meetings and depending on whether the administration is preoccupied with the syria situation, and does not want to dive into china at this moment. >> kayla, of course the middle east is less of a controversial nationalistic topic for the chinese compared to issues of the south china sea and north korea, for example. do we think this pushes north korea up on the agenda in today's discussion and increases president trump's sort of bargaining chips and hand on it because he's expressed his strength to act? >> that's certainly one potential option, wilfred. but north korea was already the number one agenda item on the list. that's where the urgency came from to hold this summit in the first place. some china watchers said 77 days into an administration is quite

early for this to happening, especially because there's no ambassador confirmed no u.s. trade representative in place. so there's a young, incomplete administration taking on this meeting with an unclear approach on how it would deal with china. but the north korea situation pushed their hand here and caused this meeting to happen earlier. it's always been the administration's case they wanted to deal with north korea as the top agenda item. but trade is the el fantd in epe room. >> dinner last night, was it chopsticks or knives and forks? >> that's a really good question. but one interesting tidbit is the last two state dinners that were held at the white house featured a maine lobster, a delicacy in china. very popular there. last night's dinner did not include that or chinese wine. it was a fully american menu with wines from california and new york strip steak. >> looks like knives and forks

from the videos. >> you can't eat strip steak with chopsticks. >> also good choice on not having chinese rice wine. it's potent, ridiculously strong. in my opinion, awful. lots of other wonderful things about china. the rice wine, not on my list. kayla, thank you very much. when we come back, continuing coverage of the major geopolitical story, having an impact on the markets. the u.s. launching air strikes in syria jolting markets from asia to the u.s. futures recovering from early losses. the full global reaction still ahead.

hey dad, come meet the new guy. the new guy? what new guy? i hired some help. he really knows his wine. this is the new guy? hello, my name is watson. you know wine, huh? i know that you should check vineyard block 12. block 12? my analysis of satellite imagery shows it would benefit from decreased irrigation. i was wondering about that. easy boy. nice doggy. what do you think? not bad.

for years, centurylink has been promising fast internet to small businesses. but for many businesses, it's out of reach. why promise something you can't deliver? comcast business is different. ♪ ♪ we deliver super-fast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. we do business where you do business.

♪ ♪ welcome back to "worldwide exchange." let's get you up to speed on the market action. a clear drop off in u.s. equity futures around 9:00 p.m. last night when news of those missile attacks on the syrian air base broke, but the declines are not huge. we've recovered since the lows, and are down just about 0.15% on the dow. coming into today before this, the dow was exactly at 0% returns for the week as a whole. the nasdaq and s&p just behind that. flat returns coming into today's trade for the week as a whole. the best performing sector this week has been energy. up more than 1%. the worst performing has been telecoms, down more than 1%. oil prices impacted that. before today, oil us about 2%

for the week. jumped around 9:00 p.m. last night, moving in the opposite direction, questions about whether impact supply. the move like with futures not significant. not expecting a major change in supply dynamics in the region. up 1.5%. 52.46 for wti, crude, and oil prices mean the energy sector, the best performing sector for the week. for equity markets, sara? >> when we come back, the top corporate stories and stocks to watch. before we head to break, the national weather forecast from reynolds wolf. >> good morning. let's look at your forecast across the country. beginning in parts of the northeast, we have the jumble mess of rain, sleet and snow. new york city warmer no precipitation expected. atlanta, the breezy conditions continue with 62. partly cloudy in miami. dallas with sunshine. denver looks beautiful. sun, clouds.

what's not to love about that? if you're a see kier, you have love what's happening out west. high above, all snow. warmy conditions for the southern plains, that spills up to the big sky country. 80s for much of florida. back into denver and l.a., talking some 70s. going to commercial break, more "worldwide exchange" coming up after this.

welcome back to "worldwide exchange." let's get you caught up on the market action. following the market reaction to the news that the u.s. launched cruise missiles at a syrian air base. the markets took a bearish tone to that news. the dow futures there dipping on the news, but as you can see in the last few hours, recovering most of the losses. dow futures down about 34 points. so the tone is better than what we saw 9:00, 10:00 p.m. last night. treasuries, gold, the japanese yen, all in demand. we continue to see that this morning. though again, off the levels that we saw overnight. the ten-year treasury note yield, 2.32. we were at 2.34 yesterday. overnight the ten-year yield got as low as 2.28. lowest since november. gold prices holding their 1%

gains. again, on this notion that we are in an unpredictable, uncharted territory and unexpect move early from the trump administration. >> looking at the currency boards, the dollar as a safe haven, stronger against pretty much everything apart from the yen, which is seen as a bigger safe haven. again, currencies moving towards the safe haven tune, albeit moves relatively small. stocks to watch today. samsung forecasting q1 earnings growth. operating profit expected to surge 50% from last year. this despite political turmoil surrounding the company in south korea. shares off half a percent this morning. shares have been on a fantastic run of late. much more relating data and chips than the smartphone part of the business. hyundai and kia planning a major car recall in the u.s. the two automakers will recall 1 million vehicles due to engine issues costing both firms 2$220

million each. kia down almost a percent. medtronic is recalling devices used to monitor fluid build up in the brain. the voluntary recall is being done due to an issue that can occur after implantation. general motors says china sales fell due to a shift in the government's tax policy. march sales overall rose 16% from last year. pricesmart quarterly recall thes coming up short of the expectations. shares of the warehouse club falling on the news. wd-40's earnings missing the mark and the company cutting its full-year outlook. the stock down more than 4% on the news. the united states launching dozens of cruise missiles at a syrian airfield. matt bradley joins us live from beirut with an update. good morning to you, matt. >> reporter: good morning. so, right now we've just heard

there were probably something like six syrians who were killed in this u.s. air strike on the syrian regime base. this is a major escalation, but so many people in the region are seeing this as many in the u.s. are, that donald trump has essentially painted himself into a corner with his bellicose language about the syrian regime, and his criticism of his predecessor barack obama. that's what they're seeing. this is little more than a warning shot or a shot across the bow of the syrian regime. but still this rather minor limited air strike, if it indeed stops here, is really upending a lot of assumptions that donald trump brought into office. if you remember, president trump offered limited praise for bashar al assad and said he could become a partner in the fight against terrorism. now other groups extremely islamist in nature are praising donald trump's intervention and the syrian government is

protesting saying donald trump will hinder the fight against terrorism which was one of his main planks when he was running for office last year. donald trump is wading into a regional shark tank here and, as i mentioned earlier, changing so many alliances. a lot of other state also have to g states will have to get on board with this new reality. >> one air base has been hit by this. how many air bases does president assad have in total? in terms of the overall the air presence, what portion is provided by his own air force, with his own air bases, which portion is provided by russia? the russian army and air force has been providing significant air support in the last year or so. >> when the russians waded into the conflict in 2015, they

tipped war in favor of bashar al assad. before that, al assad had been fighting against insurgents, not just secular groups, but groups like isis and hother groups. so this russian intervention tipped the balance in favor of the assad regime, their planes that have been told to the syrians and piloted by syrians, some piloted from the syrian bases on the west coast, they have actually been a decisive factor in suppressing not just islamic state and other groups but some secular opposition who are actually aligned with the united states. what this does is take the u.s.'s alignment against the assad regime and takes it a step further. but as i mentioned earlier, the question here is whether or not

donald trump's intervention will be limited to this air strike, these 60 missiles, or whether there will be more. >> matt bradley in beirut, thank you very much. still to come, the top stories, and the global market reaction, including to those air strikes in syria. >> plus president trump meeting with his chinese counterpart in florida today. we'll speak with leland miller on what to watch and how this equation has changed after last night's news in syria. "worldwide exchange" will be right back. you get used to food odors in your car. you think it... ...smells fine, but your passengers smell this bell dinging new febreze car with odorclear technology cleans away odors... ...for up to 30 days smells nice... breathe happy, with new febreze.

welcome back to "worldwide exchange." let's get you up to speed with the breaking news overnight. u.s. warships in the mediterranean fired 59 cruise missiles targeting a syrian air base. officials say the base was the one used to launch tuesday's chemical weapons attack that killed syrian civilians. a syrian official said the missiles caused material damage to the airfield. sergey lavrov of russia says this is an act of aggression and says moscow will demand washington explain why they conducted the strike. >> you saw a risk-off reaction out of stocks and into safe havens, but in the last few hours a recovery in sentiment. dow futures down 38 points. the initialov overnight reactio was more severe.

there you have the gut reaction to the headlines when they crossed about 9:00, 10:00. what you've seen since is a recovery. we've taken a dip lower. big reaction in oil prices. continuing this morning. wti crude, 52.53, up 1.6%. as we're hearing, not a direct supply threat when it comes to syria, but an escalation in tensions in the middle east sparking a rally for oil prices. there's the overnight chart there. mostly holding on to gains. gold prices, the yen, safe havens, ten-year treasury note also in there. >> let's look at the u.s. ten-year treasury note it did see yields dip below 2.3% briefly to 2.29%.

just above that level now. the u.s. dollar that gained pretty much across the board as a safe haven trade apart from against the yen, which is having its own safe haven status. the moves relatively muted apart from against the russian ruble, which has paired losses a bit. the ruble softer by 0.8%. over 1% lower moments ago. gold prices to round things off higher. 1,266. president trump will continue his meeting with president xi jinping in florida today. trade, tariffs anditems on the . how is the visit being perceived in china? eunice yoon has more. >> reporter: what is interesting is how muted the reaction has been. when president xi goes anywhere,

normally there's a full-court press. you would think because he's in the united states that there would be a lot of coverage. that's not the case. when the two presidents met early this morning, i know it was early in the morning, there was very little reporting coverage. not even one photo of president xi. also discussions about the event appear to be censored and blocked. i spoke to one chinese political analyst about this. i asked him why this was. he said it all goes to xi's image. and that chinese people equate a leader's power and ability with his or her image. so, president xi is very sensitive about his image. so that's one of the reasons why the government here is carefully crafting the message in the media. normally the chinese government is meticulous about the way they plan these things. they don't like anything impromptu, that's another big question for them. this professor said that president trump is still very

difficult to predict. because of that, on the chinese side, there's a question mark as to how this meeting will go. guys? >> eunice, thank you very much for that update of the perspective from beijing. let's discuss more in terms of this meeting and the latest developments overnight and what it means for the meeting, leland miller of chinese beige book international. thank you very much for joining us. the air strike on a syrian air base, does that markedly change the tone of the meeting today between president xi and president trump? >> it does change the tone. this has always been about north korea, a lot of people suspected it was about trade, but it's about establishing the rapport between the leaders, and what will we do? do we have the type of relationship where we can move forward jointly on this, or do we have to go it alone? by the latest moves last night,

the president has said i'm not bound by what i said during the campaign, i can do things. what does that mean for north korea in terms of what happened last night? >> north korea shot off a missile before this summit. nothing happened there was a terse statement out of the state department. they had no reason to think trump would do anything. he campaigned on not getting america into foreign wars. they felt secure in this. fast forward, 24, 48, 72 hours, you have assad picking a fight and trump immediately making a decision to bomb them this was a small pinprick missile strike, not a huge operation, but the message it sends, they have to be thinking this is a different man than they thought about 48 hours ago. >> does president xi care about what this means specifically for the middle east or just more broadly what it means about whether president trump is an interventionist in other parts of the world? >> broadly. i don't think this -- this is a pin point strike.

the russians were notified beforehand. this is a change in the middle east. what it does, it makes the chinese think about this. in some ways they don't like the idea of the u.s. sticking its nose into foreign countries where they don't think it belongs. at the same time they like the idea of the united states being caught up in the middle east, they like the fact there's u.s./russian tensions. this is changing their thinking about how they can handle the u.s. it's changing things. >> what does the u.s. need from china as it relates to the challenge of north korea? >> the problem is what it needs it cannot get. everyone thinks the chinese can pull a lever on north korea and change it. there could be more dramatic sanctions, they could shut things down. theoretically they could take out the leadership, but none of the things that the chinese wants out of china for north korea are on the table. right now this is a back and forth act between the u.s. and china saying this is becoming a major national security problem for us. it's a major national security

problem for you. can we meet in the middle? the answer has always been no. but we're getting closer to decisions having to be made. >> you mentioned china likes russia and the u.s. having tensions. why is that? >> china and russia always operated as sort of a push back against the u.s. >> but china and russia not really allies. >> not allies in the traditional sense. to the degree they can keep the u.s. occupied in foreign wars and metse messes, the better fo. we need china to work on north korea, we're staying out of their hair, the north china sea, they like us engaged in as many messages around the world address possible. what does this mean for president trump's plan to confront the massive trade deficit with china? >> it pushes it back. he campaigned on that and will continue to talk about that, but the main reason why you did not see much media build up to the

summit, you saw very few headlines, there's a major break in the team between those who think you have to engage with china in ord toer to have forei movement. incredible tensions, no decision on it, but this will contribute -- this will be a major factor into the rethinking they'll be doing. >> the view in china of president trump, both coming up to the last 24 hours and with this add development of military action. do people across china respect him? do they think he's antagonistic? what is the general view of president trump in china? >> i don't think they know yet. coming up to the election, people knew hillary. they didn't like hillary. trump, there were opinions all over the scale. a lot of people thought they would leave china alone, others report they would push china too hard. this is the donald trump that the chinese people did not expect especially in the first

few months of the presidency. leland, thanks for joining us. some corporate news today, youtube making a push to protect its creators. landon dowdy has more on this story. >> youtube taking measures to protect creators. the website announcing it will not allow ads on channels with fewer than 10,000 views total, this in an effort to block channels that steal content from other sources. the move comes amid a backlash of advertisers over the placement of ads on objectionable videos, such as videos supporting terrorists or racist messages. youtube saying the new thresholds will help ensure revenue only flows to creators that play by the rules. after such cases recently, some big advertisers reduced or pulled spending from youtube, including coca-cola, general motors, walmart and dow jones.

alphabet saying last night many advertisers did not leave and many decide to come back while they know no system can be perfect, they appreciate the actions we've taken and know we're taking this seriously and are committed to getting better and better. shares of google are trading flat this morning. >> thank you very much for that. still to come, the must reads, both on the topic of military action in the middle east. let's look in on u.s. futures at this hour. they sold off at the moment the news broke of that missile attack in syria. they have recovered since. but they are down 0.2% as we stand. back in just a couple of minutes. so for once i've got plenty of time. what's going on? so those financial regulations being talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. thanks. yeah. that would be great. we've grown to over $900 billion in assets under care...

by being proactive, not reactive. it's how edward jones makes sense of investing. shis it dna or olay? us 20-something skin. new olay total effects fights seven signs of aging to help take years off of your skin age. who needs dna when you have olay? new total effects.

you get to do the dishes.ed... bring 'em on. dawn ultra has 3 times more grease-cleaning power. a drop of dawn and grease is gone.

welcome back to "worldwide exchange." continuing to monitor the market reaction for you to the news last night of u.s. air strikes in syria. wti crude having a sharp reaction here. oil prices on the rise, up 1.6%. there's the overnight action. you can see the initial spike on the headlines. mostly holding gains here. the theory here is that heightened military activity and escalation in the mideast, the oil producing region is bullish for the price of oil. u.s. equity futures off the lows of the overnight session. they have recovered a bit but still under selling pressure. the must-read stories. my pick is in the "wall street journal" titled trump's syria

opportunity. the editorial board writing the larger point for mr. trump to recognize is that he's been tested. the world friend and foe is watching to see how he responds to mr. assad's war crime. his quick air strike on the evening he was having dinner with president xi jinping makes it clear that the obama era is over. a detailed story from the "wall street journal" editorial board. big change in tone. and that interesting thing that so many people focused on from president obama, that the red line was drawn. it was crossed. no action was taken. just earlier this week president trump said lots of lines have been crossed. we were all wondering what sort of response it would lead to. the response quick. >> he got a lot of criticism for pinning it on the past administration. people are saying this is your responsibility now. he's shown overnight that's the case. my pick is in the "new york times," also reacting to this. after the missiles we need smart

diplomacy. the word is wondering what comes next. the times we hear from deputy national security adviser anthony blinken writing now the administration has leverage it should test with the assad regime and russia. to restrain syria's air force, stop any use of chemical or biological weapons implement an effective cease-fire in syria's civil war and move towards a negotiated transition of power, goals that eluded the obama administration. >> the big question is what comes next. so manyplications in the region, it's so hard to have

confidence. >> heightened sense of uncertainty in the markets now. when we come back, we're getting you ready for jobs friday. that report will come at 8:30 a.m. eastern. we'll preview the data, ask what it means for the economy, the fed, the white house and the markets. david rosenberg joins us next on "worldwide exchange."

the yield on the ten-year treasury note tells the story of the overnight action. we saw a dip in stocks around the world and a flight to safety. buying of the popular safe haven assets, japanese yen, gold prices and ten-year treasuries, that pushes yields lower. 2.32 is the yield. lower than yesterday. but there's been a marked recovery overnight. we got as low as 2.28, lowest several since november. joining us is david rosenberg,

chief economist and strategist from gluskin sheff. we were going to talk to you about jobs day, which we will do, but the global reaction across currencies, commodities and stocks to the news overnight in syria. clearly a pronounced bearish tone. the question is will it last? always tricky to figure out how these geopolitical events move the markets. >> i think the moves you're describing are mild. i think it will be temporary. i think we have to look at the counter factual. what would have happened if trump had not made this decision, which i think is the correct one and a gold one. and it wasn't just a message to assad, but also sending a message to, i think, an even more pronounced threat to america, which is north korea. so i think this will pass quickly. there's always the second round impact on what putin will do. the impact on relations with russia. but my sense is that the geopolitics here, i think the reaction you've seen is probably

already baked in the cake. it's back on to the fundamentals. >> david, does it increase the possibility in peoples mind of donald trump moving forward, being more interventionist and raising the possibility of military action elsewhere, whether it's north korea or anywhere else? what kind of elevation in action more than just the simple air strike would you expect to move for markets? >> i think this was a one-off. it was a targeted strike. against the root cause of the gas attacks that assad unleashed. so, you know, this wasn't a broadly based military action. it was very precise. i think that by monday we'll be talking about other things. and at some point somebody has to stand up to the bullies in the world. i think the more dangerous outcome is to basically not have the u.s. at least somewhat play

that old role of being the world's policeman. my sense is that this is a one-off. you can see it complicates relations with russia, which were starting to become a bit more frosty any ways over the past couple of weeks. what this induces put ton do in concerning releasing more hacked information about the white house, who knows. we're focused here on syria. the message in my opinion was to north korea as well. >> we'll sawait to see more on that between president trump and president xi's meeting today. in terms of the market today, we have a job report at 8:30. what do you think? >> i think the number will be funky. i advise everybody to ignore the headline payroll number, i think it will come in weak, and for two reasons, weather and

weather. we came off a balmy january and february. february was the second warmest february on record. what that meant was we created over 100,000 construction jobs. those jobs will be in reverse when we get the numbers today. the other weather impact was that the payroll survey week landed instella. that could have a 25,000 drag. the consensus is around 175,000. it hasn't changed, but my sense is that number could come in quite a bit weaker. this could be a day where ig nev ignore the payroll report. we also have the companion household survey. >> david, we've seen the yield on the ten-year slip again this week for various different reasons, dip below 2.3. yet the dollar has been stronger this week. so a sort of breakdown of the q1 correlation between yields and the strength of the dollar.

>> i think that, you know, part of that move recently was more reflecting the markets built in a view that mario draghi would turn more hawkish, and then corrected that view. you saw the markets bouncing around 1.09, and then retreat from there. the u.s. dollar, trade weighted index hit the trend line, successfully bounced off that trend line and moved higher. i wouldn't be talking about a strong dollar or weak dollar. i think right now the u.s. dollar is trading in a range. >> david, thanks for joining us on jobs day as always. david rosenberg. deutsche bank just hitting the wires, they have successfully completed that well telegraphed billion euro capital increase, a crucial turning point for them. but they finalized that, got it away. the stock is up half a percent. it has been rising significantly since the initial fall when they announced this capital raise was

coming. >> we'll continue to monitor the market reaction, worldwide reaction which has been overall supportive of president trump and domestic reaction as well. did you know slow internet

can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business.

good morning. breaking overnight, the u.s. launching dozens of hom hatomah missile strikes at a syrian airfield. geopolitical concerns sparking a jump in crude prices. we'll get you up to speed on all the market moves. on top of this, it's jobs friday. we'll tell you what to expect from the march employment report. it's april 7, 2017. "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. we are live from the nasdaq market site in times square. i'm becky quick, along with andrew ross sorkin. the sop &p is down about 4. the dow jones off about 26. the nasdaq down about 7. when the news first crossed the wires last night, we were down about 100 points. let's also look at what happened overnight in asia. this news coming just about 9:30 p.m. last night. the nikkei ended up closing up by a third of a percentage point. the hang seng was flat. shanghai was up, only 0.2%. in europe this morning in the early trading there, you can see markets are reacting wit