good morning. markets now, the euro slipping against the dollar, reacting to dovish comments from ecb president mario draghi. >> back to washington, president trump returns from his week-long foreign tour. and tiger woods speaks out. the golf legend apologizes for his dui and said alcohol wasn't a factor in the arrest. details coming up. it's tuesday, may 30, 2017. "worldwide exchange" begins right now. ♪ good morning. welcome to "worldwide exchange." i'm sara eisen. >> i'm wilfred frost.

good morning to you from me as well. welcome back from a long weekend. >> long weekend on both sides of the atlantic. check in on the markets this morning. hard to remember back to friday. we did have another record close on the s&p 500. futures showing a mixed picture. dow futures are up 3. s&p down a half point. nasdaq futures are up 3 points for their sake. nasdaq, the star performer technology. as for the ten-year treasury note yield, seeing low yields across the board. saw that again in last week's session. buying of treasuries sending the ten-year down to 2.24. the big report is the jobs report on friday. two weeks to go until the next fed meeting. let's see what the data shows between now and then. >> surprising you're saying hard to remember what happened on friday. you're suggesting in vegas you were not just studying the market moves of last week? >> when you go to vegas and a

three-hour difference and come back, it prolongs the weekend. you were in california, you should know that. >> but i just stayed focused on the markets. let's look at what's happening around the rest of the world. in asia, china markets closed for the dragon boat festival holiday. elsewhere, mixed performance. indonesia for you at the bottom down 0.3. australia slightly higher. japan flat. last week decent performance out of hong kong, saw 2% of gains. china and japan more flat compared to these gains from hong kong. looking at european trade, france and germany either side of flat. the ftse 100 gaining about a percent in light of a 2% fall for the british pound. as you can see, soft across the board. france down 0.6%. but elsewhere the gains not too marked. as for the broader market picture, oil prices after they were disappointed by the opec decision to extend production

cuts for nine months. wti down by a quarter of a percent. 49.68. that sharp run up into opec. it gave a lot back on the price after we got that announcement. brent crude just dropping below $52 a barrel. down more than double wti. natural gas down 3%. now to currencies. let's show you what's happening there. the eurozone is the big mover in the morning after comments from mario draghi suggested he is still in easing mode talking about extending extraordinary monetary policy. we'll get to that. 1.1137, that explains the quarter percentage point move lower. the pound staying in there after getting hit on election volatility into the election the as polls tighten here. the dollar is weaker against the japanese yen. just dropping below that 1.11 figure. on the pound, it's flat, but

nearly lost 2% over the course of the week as polls narrow. as we get closer to that june th vote. the uk ten-year gilt has fallen below is 1% since october. last week very much more the case of lots of individual stories as opposed to simply is this another strong dollar or weak dollar? the last two, three months it has been will the dollar strengthen or weaken? now it's focused on individual stories like the euro off the back of the draghi comments or the pound. >> the data might force draghi's hand. the data has shown a better picture in manufacturing and confidence across europe. the question is will other governments wanted to tighten

and get away from the extraordinary stimulative policy. that's a question for europe going forward. a number of european headlines front and center for markets. the comments from mario draghi signaled the bank is not ready to unwind stimulus measures despite better economic growth across the eurozone. draghi said inflation remains subdued. the euro down a bit this morning. a greek government spokesman is denying a report that greece may opt out of the next bailout payment if lenders fail to reach a deal on debt relief. a german newspaper reporting that athens was weighing that option but the greek spokesperson said there will be a solution reached when european ministers and imf ministers meet. european banks taking a hit after deutsche bank cut its rating on regional bank stocks in europe to underweight from market neutral. the sector is most sensitive to

the swings in the euro areas growth which they expect will fade a bit this year. valuations are no longer compelling. if you read this note, it's a bullish downgrade based on the run they had recently and the fact that the big improvements we've seen in european growth over the last six months are priced in. as opposed to the fact that they think growth will fall off a chart. yesterday there was no holiday in italy. italian banks were down. that's not so much rated to this downgrade, but just talk now that we might be getting an italian election date later this year as opposed to early next year has to be held by may at the latest. various reasons why they might bring it forward. that created uncertainty for the italian banks. >> i would think they would not like the mario draghi comments either. >> the moves today more muted than yesterday. >> other european news, angela merkel signaling tensions between the u.s. and germany may

be increasing. in a speech she said europe could no longer fully count on others. she never mentioned president trump by name, but the blunt remarks did come after president trump did not say they would protect nato allies if they come under attack and he did not commit to the paris climate accord. he tweeted yesterday he will make a decision on that soon. the word this morning is that he will opt out of it. we know that's a critical sort of unifying policy for german chancellor angela merkel. >> huge reaction across europe from angela merkel. even if things didn't go well, if she was playing the diplomatic game -- >> wasn't she speaking at a campaign event? >> she has an election coming up. this is a big change. even if the only issue was a specific environmental issue, for her to come out and say such a broad thing, that has a lot of attention. and highlights how we said all along ahead of trump's trip that

he could get a much harsher reception than he had done in the middle east. that's been clear to see coming off the back of this trip. >> it's important for investors and economics. yes. we have a close relationship with europe, but europe can increase its ties with places like china. emerging markets account for a half percent of global growth. this is something to watch, the geopolitical relationships do matter. british prime minister theresa may's lead over the labour party dropped to 6 percentage points in a poll out today. the race is keeping tight. also a night may and jeremy corbyn took part in one-on-one interviews and answered audience questions instead of debating head to head. may was repeatedly asked if she changed her mind on a hard brexit. the election june 8th. british airways says its

computer networks are operating normally after an outage this weekend forced the cancellation of hundreds of flights. an electrical malfunction knocked out the airline system handling bags, flights and customer service affecting operations at 170 airports in 70 different countries. british airways says it is working to get delayed bags to passengers. analysts estimate the disruption will cost the company about $90 million in lost sales and customer clays. shares of parent aig are lower by 3%. there you can see the big drop. >> i've seen estimates of more compensation claims, more like 1$150 million. 75,000 passengers affected. 800 flight s canceled. >> there's pictures on social media. hours and hours just to get out of terminals. what a mess. >> i hope they sort it out. a developing story out of north korea. the north korean official news

agency reported that kim jong-un supervised the test of a ballistic missile. the latest test launched yesterday landed in the sea off the country's east coast. another crucial geopolitical area to continue to watch. president trump mentioned reportedly planning a withdrawal for the u.s. from a landmark international agreement on climate change. axios is reporting that the president told members of his cabinet that america will exit the paris accord. the white house will hold meetings with energy executives this week. president trump who has previously called global warming a hoax did come under pressure from g7 leaders last week to honor the 2015 climate agreement. housing and the consumer are in focus today. personal spending out at 8:30 a.m. eastern. that's followed by the case-shiller hope price index, and consumer confidence. lael brainard will speak this

afternoon. and at 7:00, rob kaplan will be on "squawk box." now the story that will dominate the front pages today, new details emerging about the arrest of golf legend tiger woods. landon dowdy has the latest on this surprising story from the weekend. good morning. >> the saying goes a picture is worth a thousand words n this case could be worth millions for tiger woods. the picture of the professional golfer from the palm beach county sheriff's office was taken following a dui arrest early monday morning, a move that will surely raise questions of his current and future millions in endorsements. woods current sponsorships include nike golf, which built the golf division around woods. taylor made gold, bridgestone golf, rolex, upper deck and hero motor group. according to golf digest, tiger woods is the fourth highest paid governor 2017 raking in $107,000 on the course, but a whopping

34.6 million off the course with all of his endorsements. this is just the latest in a string of scandals for woods including a publicized affair, a car crash outside of his florida home back in 2009. "sports illustrated" reported that woods lost $22 million in engorsmentes f e es endorsement following that. he is recovering from back surgery which kept him from the masters. in a statement woods said i want the public to know that alcohol was not involved. what happened was an unexpected reaction to prescribed medications. i didn't realize the mix of medications had affected me so strongly. i'm sure we'll hear more from him and the golf community throughout the day. back over to you. >> thank you very much for that. whether a fall. >> that elusive story. >> one of the best nike athletes, one of the highest

sponsored, top of the game. role model for all kids. >> it's a sad fall from grace, but hopefully this will be a wake-up call. everyone would love to see him back at the top. >> yeah. so many. still to come, a round up of the top corporate headlines. and we'll tell you why one former ceo says the president is causing confusion for big business that story coming up and much more on "worldwide exchange." es out there es out there and adapting them to work for you. the ultrasound that can see inside patients, can also detect early signs of corrosion at our refineries. high-tech military cameras that see through walls, can inspect our pipelines to prevent leaks. remote-controlled aircraft, can help us identify potential problems and stop them in their tracks. at bp, safety is never being satisfied. and always working to be better.

welcome back to "worldwide exchange." let's get you up to speed on the market picture. pretty much flat as we sit here tuesday morning following that extended hol biday weekend. last week, we saw gains. despite tech's outperformance painted by the nasdaq, a relatively boring rally. utilities the best performing sector. the worst sector was energy, down about 2%. why? because oil prices slipped. in fact, for the week as a whole, oil was only down about a percent. but more volatility towards the end of the week with that opec meeting coming and slightly underwhelming, keeping production targets and extending them by nine months. we saw bigger moves towards the end of the week. a little soft this morning. nothing too serious. just below $50 on wti. elliott management losing its legal battle to remove akzo nobel's chairman. the ruling means that ppg mrus

make a hostile bid for the company or abandon its takeover pursuit. ppg saying they are weighing whether to bid or not. stocks to watch today, ryanair reporting a record annual profit. the airline promising higher profits and lower fares next year. citi is expanding its corporate banking business in chinese market. they are committing to an extra lending and rolling out new strategy for eight key trade quart sgloeer quarters. novartis is mulling 50 billion in asset sales. the shares are a little changed to down. first data agreeing to by card connect for 7$750 million n cash. the deal also includes repayments of card connect's outstanding debt and redemption

of its preferred stock. this is the biggest takeover since going public in 2015. a bit of softness in the share prices. barron's is upbeat on ford saying the newly appointed ceo can lead the company into an exciting future. the article says the stock is set to recover from a recent slide. shares up 0.6%. barron's thinks that yahoo! is still undervalued. the puncatiblication thinks tha shares are trading at a significant discount to asset value. yahoo! stock down a third of a percent this morning. still ahead, the beige bras brawl that everyone will be talking about this morning. first as we head to break, here's the national weather forecast from nbc's bill karins. >> good tuesday morning. some business travel issues this afternoon at the airports. it's not going to be every airport but we'll see a lot of

scattered storms in the east. almost like a summertime regime. watching cloudy skies in areas like new york. we may get thunderstorms that could be on the severe side. 5 million people at risk from rochester to syracuse, binghamton and harrisburg. even washington, d.c., richmond and norfolk could see a stray thunderstorm this afternoon. by the time we get into wednesday, we'll continue to watch the chance of scattered storms in the south. getting a little warmer in areas of the northeast. not exactly summer-like but not like the miserable memorial day weather we saw. all the warm weather continues in the west. more "worldwide exchange" when we come back. nah. what else? what if we hire more sales reps? ♪ nah. what else? what if we digitize the whole supply chain? so people can customize their bike before they buy it. that worked better than expected.

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welcome back to "worldwide exchange." manuel noriega has died at the age of 83. he was a one-time american ally who was ousted during an american invasion in 1989. he served a 17-year prison sense in the u.s. on drug charges and then was sent to face charges in france. he spent all but the last few months of his life in a panamanian prison for the murder of his political opponents during his regime. on twitter panama's current president said noriega's death closes a chapter in our history. the former ceo of hasbro says confusion surrounding president trump's trade policies says companies no longer know

the rules of the game. a conference in portugal was told that the rules are changing constantly. he says the situation has been created by so much white noise and smoke coming out of the white house and gridlock in congress on president trump's agenda is not helping. hasbro makes many toys outside the u.s. and has markets worldwide. the stock is up by 30% this year. president trump back to work in washington today and attention will return to the russian investigation. tracie potts joins us with the latest. but congress is on recess, isn't it? >> congress is on recess, but the president is back. the tension is turning to russia and this russia investigation as it was before the president left. senator john mccain, who is a big foreign policy voice on capitol hill says russia is a bigger threat than isis. he made those comments in australia on the way to a defense summit saying that vladimir putin needs to be dealt with. one of the ways the white house

is trying to do that, we're told, is setting up a war room, according to multiple sources to deal with questions on the russian investigation. president trump made it clear that he wants this over with. he thinks there's nothing to it. one of the people who is supposed to be key in setting up that russia war room at the white house is his son-in-law. and close adviser jared kushner. kushner is facing xwe questions his own about trying to set up secret communications with russian officials. that's something that nbc has not verified but it has been reported in the "washington post" that he was trying to set this up before president trump was in office. kushner has said he is willing to talk about all of his russian meetings, but still this is an issue that continues to plague the white house. so they're trying a new approach to try to deal with it. maybe even a new approach with the media. all these reports that sean spicer, the press secretary might take a step back from the

podium in favor of his deputy who has done some of those press briefings. they're trying to mix it up a bit and bring in some other officials in the administration on specific issues like the budget, national security from time to time. really not quite a shakeup yet but some rethinking going on inside the white house on how they approach the media and how they approach key issues and certainly how they approach this russian investigation. >> is the president still on his son-in-law's side? any news on that? will his role be diminished or does it reinforce trump's loyalty towards him? >> he told the "new york times" he has total confidence in kushner despite these stories that are coming out. there are some in the white house, according to our sources who suggested he lay low for a while. again, kushner said he is willing to come and speak publicly, testify to congress, talk to the fbi. we'll see what develops with that. >> "usa today" leads with allies

grow distant after trump leaves. "wall street journal" leads with trump bid to rewrite tax code falters. it seems like that's where the news has moved no matter what congress decides to do with hearings on russia you have this geopolitical strain that everyone is talking about at a time where president trump promised to fulfill his ambitious agenda. how will that be accomplished? >> that's a good question because they have not even dealt with healthcare yet, and that's something they tried to put in front of tax reform. it's a big lift. it's a big ask considering they have the budget to deal with and healthcare before they hit tax reform. >> okay. great stuff. tracie potts thank you very much for that. tempers flared yesterday when the washington nationals played the san francisco giants. the nationals star bryce harper charged the mound after being hit by giants pitcher hunter

strickland. the two exchanged blows. this was the first time harper and strickland faced each other since harper hit two home runs in strickland in a playoff game in 2014. provided no one was seriously hurt, i quite enjoy that thing. >> really? violent. >> passion for the game. blwhen we come back, from market moving comments from mario draghi and new polls out of the uk, and one sector gets a 14% booth since donald trump has been elected president. we'll highlight that when we return. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment. new lower taxes. and new university partnerships to grow the businesses of tomorrow today. learn more at esd.ny.gov

good morning. what the ecb president said over the holiday weekend that is weighing on global markets. north korea at it again. the nation test firing yet another missile late yesterday. the fallout ahead. and married in a snap. the small wedding get big buzz today. it's tuesday may 30, 2017, you're watching "worldwide exchange" on cnbc. welcome back to "worldwide exchange." i'm sara eisen. >> and i'm wilfred frost. the global market picture essentially flat at this hour. about 2% of gains last week. around 1.3 for the s&p and the dow. the technology sector clearly

doing very well as highlighted by the nasdaq's performance. elsewhere from that, it was a boring rally. utilities sector led the charge up. energy the worst performing, down just over 2%. oil prices did slip. the first negative week in three. all told down r doabout a perces a whole. as you can see, nasdaq slightly higher. s&p and dow slightly lower. asian trade for you. coming off the back of the week where hong kong gained about 2%. shanghai and japan were flat. we are seeing a soft picture this morning. we have chinese markets closed for the dragon boat day holiday. not much movement elsewhere. european trade for you, the ftse 100 slightly lower this morning. >> the dragon boat race in hong kong, have you been there for

that? >> i haven't. >> everyone gets into it. >> big festival. important once a year event. the broader market picture, oil prices now under a bit of pressure after they did close lower last week, below $50 a barrel on the back of disappointment from the opec meeting to extend production cuts by nine months. wti 49.66. for the week it was flat. it ran up into that meeting but then gave a lot back. goldman sachs lowered its oil forecast for the year to 52.39 down from the previous forecast of 54.80. that could be weighing on the price. ten-year treasury note yield, it's been a story of low yields, that held back key groups like the banks in trading session. we'll see what happens this week into the jobs report on friday. a holiday-shortened week. so far more buying of treasuries this morning pushing yields lower. >> pretty stable the last two weeks. we've been between 2.2, 2.3 for a while. >> stable in the face of a stock

market that has run up to a record high, you wonder if it's telling two different stories about the u.s. economy. >> right. exactly right. we have not got the volatility in movement we had a few months back. that's an encouraging factor. >> but there still is buying of treasuries, whether it's a global phenomenon on the central bank easing around the world highlighted by draghi's comments again this morning, or something is in the u.s. economy that investors are worried about. the trump agenda. >> on that note we should say the ten-year note in the uk just dipped below 1% for the first time since october. buying in terms of sort of a safe haven. >> as for the u.s. dollar in today's trade, it's firmer against the euro. euro is the loser on the back of the draghi headlines.

1.1153. now down a tenth of a percent. tlar is we dollar is weaker against the yen this morning. the pound is a little bit firm their morning after a selloff last week as the polls are starting to tighten ahead of the british election. 1.2853. gold prices quickly. we will show you that on the back of a mixed peck chore for the u.s. dollar. gold is under pressure. all the action is bitcoin. we should switch out gold for bitcoin. >> we should. and we should have all invested in it a long time ago. and we should have bought gold at the start of the year. a nice 20% return. >> bitcoin double the price of gold. trio of headlines out of europe this morning. ecb president mario draghi said he is firmly convinced the central bank needs to stick with its quantitative easing program. he said the eurozone needs an extraordinary amount of monetary support from the ecb despite

signs of an improving economy. when he speaks to parliament he sometimes wants to make sure he has room to continue loose policy if he needs it. >> or maybe trying to talk down the euro ahead of tightening. >> he offsets things in between meetings. >> the euro has come off the lows. last year way below 1.10. now back to 1.1250. that's without tightening from the ecb. >> back in and around some of the frefrnl elnch election move around 1.04. a greek government spokesperson denying a report that athens may opt out of its next debt payment. and a new poll out of the uk shows theresa may's conservative party lead slipping ahead of next week's elections. this poll puts the conservatives just 6 points ahead of the labour party, down from 9 points

a week ago, and 20 points a few weeks ago. >> how is she losing it? >> simple mainstream policy between the conservative party and the labour party, particularly on social care. she upped how much all the voters would have to commit towards social care. it's gone down poorly with that voting contingent. a lot of headlines continue around the brexit issue. that's not the main issue affecting voters. >> not terrorism? >> not really terrorism either. a neesh policy. the bottom line is pound is down 2% last week but still higher than a couple weeks back. yes, six points is a lot less than 20 points, but if that applies across individual constituencies, she would come out with a majority. perhaps not the 100 seat she's had hoped for when she called for the election. a developing story out of north korea, the nation test fired another missile this weekend. happened yesterday. investors saying the short-term-range ballistic

missile was airborne for six minutes before crashing into the sea of japan. this is north korea's third missile test in three weeks. president trump is reportedly planning to withdraw the u.s. from a landmark international deal on climate change. axios reporting that the president told members of his cabinet including the head of the epa that america will be exiting the paris accord that could put president trump at odds with the business community because major oil companies including exxon and chevron have lobbied in recent weeks in favor of remaining in the pact. big energy likes the deal because it favors natural gas over coal. other companies like microsoft, apple, starbucks and google have expressed support for the paris agreement. a lot of people pointing to the u.s. refraining during g7 from supporting as the reason behind german chancellor angela merk merkel's comments over the weekend that europe may have to go at it alone and can't rely on some of its allies.

>> i would say as well there's been fallout in the european press. typically slightly anti-trump, pro merkel, even the press which has been critical of merkel. she came out and said something rather undiplomatic. if it was just based on that environmental issue, perhaps she has been too strong with the rhetoric. but we don't know what was said behind closed doors. she said a landmark statement in terms of saying they can't rely on -- >> maybe she's trying to rally europe. maybe some of the leaders after g7 were feeling down on the part of lack of cohesion. >> i'm sure she trying to rally voters in japan. housing and the consumer are in focus. april personal income and spending is out at 8:30 a.m. eastern. the case-shiller home price index at 9:00.

steve liesman will have an interview with dallas fed president rob kaplan on "squawk box" at 7:00 a.m. industrials have been on a tear this year with the industrial etf hitting a record high on friday. what is driving the sector? landon dowdy joins us with more. >> industrials have gotten a nice bump since the election. in fact, defense stocks are coming off of the best week of gains so far this year. the sector is up 14%, the overall s&p is up 12%. as the pro growth trump rally has faded so has the sector, now one of the lower performing sectors year to date, up about 7%. despite the reversal there are some bright spots. csx popping 50%. morningstar pointing to the increased confidence in hunter harrison coming on as ceo earlier this year.

arconic soaring 48%. the specialty metals company which split off from alcoa last year getting a boost after a truce to end a colorful proxy battle. ametek is up 25%, thanks to strong orders in q1 and better than expected guidance. the losers, acuity falling 28% on a not so bright outlook. ww granger sliding 25%. the industrial equipment wholesaler citing product concerns, and ryder down 11%. >> is there a lot huberus priced in. >> an analyst at morningstar

said it is all with the cfo, but defense stocks are soaring on the deal with saudi arabia and hopes that trump will put money towards that as he did with the budget last week. >> great stuff. thank you very much. time for top trending stories. snapchat's ceo tied the knot over the weekend much the pair held a private ceremony in the backyard of their home. photos from the event have yet to surface. >> if they are going to surface, presumably there would be one medium with which she are delivered. >> miranda has criticized facebook, but she has facebook and stain grahinsta instagram p. >> maybe she has 50% stake now. >> she was there at the ipo day.

they both made a brief entrance. >> congratulations to them both. ryanair is calling out british airways after an i.t. outage over the weekend forced british airways to cancel hundreds of flights. this is a peicture of a famous k xh comedian, and you get the gist. don't miss ryanair's ceo michael o'leary on cnbc at 8:00 a.m. >> that's aggressive, not sympathy there. >> no sympathy, which you would expect from mike o'leary. >> i came in on brexit day wearing a suit, half fabric of the uk flag, half fabric of the eu flag. >> yes, quite colorful. on the back of the polls, the exit polls, when everyone

thought that it had gone the remain way, they celebrated and announced gifts, and then come morning they got it wrong. so egg on the face there but not on the smart jacket. coming up, today's must reads, german chancellor angela merkel taking a shot at president trump. were her weekend comments an overreaction? that story when we return. you're watching "worldwide exchange" on cnbc.

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there's only one invokana®. ask your doctor about it by name. welcome back to "worldwide exchange." i'm wilfred frost alongside sara eisen. to our must-reads. my pick is in the uk times. "give us back the airline that won my trust." this off the back of this extraordinary i.t. outage for british airways over the weekend. 75,000 passengers were affected. 800 flights canceled. melanie phillips writing all this and other criticism she had because b.a. allowed its standards to be dragged down by competing for customers. in its race to the bottom b.a. seems to have forgotten its unique selling point, the trust it will provide a better experience than any other. i still love b.a., but even i may eventually decide that the object of my affections has had

a personality change and the romance is at an end. i pick it off the become of united's recent tre veil trava. will they survive? the market cap loss is about 500 million pounds. >> wasn't this an i.t. outage? >> but huge affect off the back of it. >> i wonder how much of those things are their fault. united was a self-made problem. >> you know, mixed reviews in terms of how well they dealt with this issue. >> i guess it's how you respond. >> interesting with "squawk box" coming up, this article suggests they have to compete with the low cast airlines, one of which is ryanair. >> my pick is in the "wall street journal." the "journal" critical on angela merkel's lament from the op-ed board. specifically going after her for saying that if it is in fact due

to the fact that the u.s. wouldn't commit to the paris climate accord. wait, since when is a difference on policy a something nalt of u.s. retreat from europe? and why is mr. trump's reluctance to sign on to paris he says he'll decide whether to leave the accord this week a failure of leadership? i think it's interesting they defended president trump on this. a lot of the business community backs the paris accord. the "journal" says he made a promise to middle class and lower income voters in the united states. this might not fit with their vision of the future for the u.s. or their cost of electricity and -- >> and what is interesting as well, there was a great op-ed over the weekend by gideon racman in the ft, slightly anti-trump with some of his

articles, he was critical of merkel for these comments saying whatever the disagreement in private meetings over the weekend, be diplomatic. don't air the laundry in front of everyone else. the "journal" does warn mr. trump, please don't overreact to merkel's comments. the way more friction to the back end of his trip in europe than the front end. >> approaching the top of the hour, that means we're abroaching "squawk box." becky quick is here with more. >> we have been thinking about angela merkel's comments, questions about what this all means. this morning we will have a guest who used to be national director. prem kumar will talk about what he says happening about the situation in general when it comes to geopolitics.

we have grover norquist joining us this talk about the tax reform proposals, the plan, where things stand, with what he thinks should be happening, and the lines are being drawn when it comes to those things in washington. still watching the markets here. s&p 500, if it's up today, it will be the first time in four years that we've seen eight days in a row of gains for the s&p 500. both the s&p 500 and the nasdaq coming off of new highs once again. we also have robert kaplan, tall also a fed president. he's a voting member of the fomc, he will join us with steve liesman at 7:10 to kick around what he thinks is happening with the economy and the possibilities for other potential rate hikes. june is the month that they are expected to hike again. plus the airlines have been front and center for some time when it onlies to customer service, what they think about things. this morning we have michael o'leary, the head of ryanair.

we'll see what he thinks about how the airlines have been treating customers. this morning, the winner of the indianapolis 500, takumo sato will join us. he's ringing the opening bell and le ta and he will talk about the win. he almost won in 2012, but crashed right at the end. this time he's coming back. he won, it's a huk tuge turnaro for him, we'll talk to him about that and a line of wine he's got as well. >> becky, thank you. >> thanks. >> coming up, data. the big focus for wall street this week. key reports on housing, the consumer and johns. we'll get you set up for the week ahead with jonathan golub next. their experience is coveted.

their leadership is instinctive. they're experts in things you haven't heard of. researchers of technologies that one day you will. some call them the best of the best. some call them veterans. we call them our team.

welcome back to "worldwide exchange."

i'm sara eisen here with wilfred frost. just about 3 1/2 hours to go before the opening bell on wall street. futures are mixed. with us now to get you set up for the week ahead, jonathan golub from rbc capital markets. good morning. >> hi, sara. >> it feels like with the lack of news on earnings and specifics on economic data the path of least resistance is higher for this market. why are the bulls in charge? >> the underlying data is good. like you say, it's been a quiet period but we will start to see another jobs report, which is likely to be good. the manufacturing data, the ism which comes out at the beginning of the month will be things that the market focuses on. you've had solid earnings, recessionary risks are super low. the fed is moving forward, but it's not going to shock the market with whatever they do. june is a done deal. i think grinding higher on low volatility. >> why then is the bond market have a yield curve that's low

and flat given the rising rate environment and suggesting bearish outlook on the economy? >> you know, that's a question that we're debating with all of our clients. if you look at the move since last june, we were at about 1.35 on the ten-year, now close to 2.25. but i would be much happier to see that interest rate edging up as a sign of greater health. some of that has been that oil prices have flattened off. that's taken a bit of luster off of inflation expectations. but i think if you want to see really healthy markets continue through the remainder of the year, you want to see interest rates higher. you mentioned oil. oil has in recent years been a headwind for the overall market. now we're back below $50 a barrel. there was clear disappointment with what came out of opec last week is that a risk that we get dragged down by energy? >> what the market wants to see is higher oil prices. >> right.

we're not getting that. >> it's up a tiny bit at $51. but there's a reality which is the cost of pulling oil out of the ground due to fracking has gotten lower and lower, it makes it hard for oil prices to be higher. you know, oil company profitability is expected to jump but off of a low base. we'll see as we move towards next year whether we continue to see that. >> the international environment, people have realized that's picked up now. are those gains for the u.s. economy priced in from the global growth outlook? >> i don't think they fully have been. the s&p, since march of '09, this whole rally we've had, 250%, yet if you look at international up about 110%. the u.s. is dominating. now you are seeing something different where the whole global economy is improving. >> you still think that will continue? >> i do think it will continue. if you notice the pmis, which is

the mick indicaeconomic indicai almost every country in the world improving. >> all right. thank you very much for joining us. "squawk box" is next. he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performance data suggest replacing capacitor c4. not bad. what's with the coffee maker? sorry. we are not on speaking terms.

markets now have the euro slipping against the dollar. reacting to dovish comments from mario draghi and maybe also some threats coming out of greece. donald trump returning home from his first treip abroad abot president and speaking out about media reports on russia. and tiger woods speaks out. the golf legend apologizes for his dui and says, in fact, alcohol was not a factor in the arrest. details coming up. it's tuesday, may 30, 2017.

"squawk box" begins right now. ♪ live from new york where business never sleeps, this is "squawk box." good morning. welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's look at u.s. equity futures. it's been seven days in a row that the s&p 500 and the nasdaq have been higher. both of those indices coming off new highs once again from friday. you can see this morning things are relatively flat. if the somebody manages to close up for another day this morning, it's the first time we'll see eight days in a row for gains in the s&p 500 in almost eight years. you have to go back to july of 2013. look now again at things relatively flight. dow