good morning tech trying to stage a rebound today after a big selloff yesterday. we're digging in straight ahead. halfway there. investors are gearing up for the last trading day of the week, the month, the quarter and the first half of the year the second half playbook straight ahead. and not so fast. nike surprises iinvestors with better than expected results and surprise news with amazon. it's friday, june 30, 2017, "worldwide exchange" begins right now. ♪

good morning happy friday welcome to "worldwide exchange" on cnbc. i'm sara eisen >> i'm mike santoli in for wilfred frost. it's new music friday. >> this is what we do. >> kicking off the weekend with drake's latest called "signs." >> if that wasn't in the te teleprompt teleprompter, would know that? >> i would not >> i know this is drake. >> i might have guessed that. >> another slide yesterday led by technology where the nasdaq closed lower by 1.8% futures are pointing to a higher start. futures were higher yesterday at this time. then it all fell apart did have some pockets of strength in the session including financials dow futures up 40. s&p up 4 nasdaq up 2. let's check on the f.a.n.g. stocks they led the selloff yesterday they're still down fractionally in the premarket worth watching, they make up

such a big portion of the market and a big important leadership group for the market ten-year treasury note yield, a lot of people are blaming the jump in yields for the sudden selloff in stocks. it's something we've seen globally 2.27, not a super high yield, but it is compared to where we started the week at 2.13 that caught investors around the world a bit off guard. got them nervous again about central banks pulling away >> the speed of the move it's destabilizing an upstick in volatitick in voly asian equities, two pieces of news on china. manufacturing activity picked up in june. pmi coming in better than expected the markets did follow the u.s. markets in europe. japan done 1%. that was also on the stronger yen. hang seng down 0.75% you had the asian markets

catching down to what the u.s. did. the china pmi coming in better than expected. bank of america cutting it's 2018 gdp forecast probably weighing on things. also the chinese yuan firming up >> having a great week >> the europe markets to the down side but mixed. now we're bouncing so it seems like germany up slightly markets have calmed down in general after the moves leading into friday. germany up a quarter of a percent. france up a bit more than that the rest of the market except the uk, the ftse are higher. >> yuan has the best week since 2005 oil has jumped this week had a nice percentage point move higher that sends it back above $45 s a

barrel wti at 45.39 brent up a percent as for the u.s. dollar whacked this quarter, this month, this week and it's a story of euro strength 1.14 more than a one-year high there. euro having a strong quarter the dollar is weaker against the yen this morning watching for signs of risk aversion and the pound is weaker today. sitting below the key 1.30 level. let's see if gold prices are responding gold is off maybe taking its cue from that, about a tenth of percent. let's talk about yesterday's selloff. all of a sudden you get a vix spike, larry mcdonald is here, author of "bear traps report." you have been expecting this for a long time, it hasn't come, but now here we are. what is the primary driver >> it's a rotation from everybody long growth and now we're seeing a move back to

value. you had central bankers around the world that have grown more -- pulling back in combination at least verbally. they have to the yet done so >> are they really >> the comments to me, when you're looking at mario draghi, he's at 60 billion a month, he says we're looking at more reflationary environment in the months ahead yellen, you have to remember, if you're janet yellen, you're sitting there and thinking, okay february, my term is up. i might want to protect my legacy she doesn't mow for suknow for e will be reappointed. rye not try to cement your legacy, pop some asset bubbles and talk more hawkish. >> we also heard from carney we heard from central bankers all week saying get ready, at least their intention is to try to snug things up in terms of policy will they have the opening to do that will the data cooperate?

>> what we've seen is the serpent in the market stops them eventually ever since really lehman, the governments have become too lauk i hawkish, the markets stopped them if you look at the nasdaq 100 compared to oil names, we've been recommending get long in the reflation trade, oil and steel names, short the nasdaq 100. you are talking about a 40 percent outperformance of the nasdaq 100 versus oil and steel and some beaten down sectors >> is that still your call >> yes we think it will last most of the summer >> what about the banks? where they do fit into that equation with yields rising they have been doing well. >> it's fascinating, if you look at twos tens, the steepness of the treasury curve, typically we've had a very, very flattening process here in the last couple months

banks have typically not done well they're doing well in that environment because of what steve mnuchin is saying, our team in washington, what we're hearing behind the scenes is treasury can do about 60% of what they want to do with executive orders if they do that with the banks they can free up a trillionto trillion of capital. a lot of these banks are holding capital like treasury bonds, municipal bonds. >> so you like banks >> yeah. the steepening yield curve, the bank also do well. >> thank you for checking in >> thanks. >> on a crazy market a down week for stocks >> down week and it looks like potentially a down month at this point. >> first in a long time. >> would be the first in eight months >> there you go. this could be a big market mover. nike reporting better than

expected earnings, 60% per share. revenue rose 5% from a year a good to more than 8$8.5 billion they were helped by an increase in demand in key markets around the world, particularly china. the company confirmed its new partnership with amazon after lots of rumors here's what nike's ceo mark parker said about the deal on the earnings call last night >> in the u.s. we're executing a new pilot with amazon with a limited nike product assortment. as we do with all of our partners, we're looking for ways to improve the nike consumer experience on amazon by elevating the way the brand is presented and increasing the quality of product story telling. we're in the early stages. but we really look forward to evaluating the results of the pilot. >> joining us on the scnbc news line is sam pozer from

susquehanna research i don't know how you can modal this out they didn't give clues as to timing, selection, what scope they were looking at still investors seem excited about it what do you think? >> good morning. i think you have to be careful what you wish for to some degree here i think they're in a test mode they want to build the brand out. there's over 80,000 items listed on amazon now between nike and converse, none of which nike sold to amazon i think amazon has to agree to get rid of unauthorized third party selling in order to allow nike to take control of the brand. if they don't, i think this test will be -- i don't think nike will be willing to go forward with it because a lot of the cool factor of what is exclusive

to nike is because you can only buy a jordan shoe waiting in line or specifically i see this as a more moderate play to cover people who just -- that's where they shop i do not see the premium product going there at all i think it's potentially very, very good. but again, amazon rarely helps people build brands. they like to sell a lot of stuff. nike has to balance what they're doing carefully. >> sam, the market is showing some relief after the report what is your overall read on the quarter and guidance was the street bracing for something worse or was there something encouraging in there >> i think if you look at the international business, it was phenomenal domestic dizziness, it showed the futures numbers which continued, which were slightly better than last quarter but not

anything to write home about, are becoming less correlation between what's really happening and those futures numbers, which nike has said. so we think a lot of the street is looking backwards i think awhether tl a lot of prn currency and the underlying business remains exceptional strong >> the stock is up 6% in the premarket. what's your target again does that change today >> it's $61 as of when we printed. when they printed last night our note is coming out shortly we do like this a lot. we said to everybody look forward, not back. we think a lot of the chatter around nike was backwards looking. we recommend people look forward. you know the company exceptionally well

we think they missed some things a couple years ago that hung over them for a while. we think there's a big inflection about to happen >> i thought they did talk about the new innovations like the nba apparel. we'll leave it there thank you for calling in on nike big move higher in the premarket. shares of micron also popping in the premarket after the chipmaker topped wall street forecasts. landon dowdy joins us with more. good morning good morning micron reported better than expected results for an eighth straight time. the firm posting earnings of $1.62 a share, 11 cents higher than the street forecast the cost reduction plans and industry dynamics helping to drive the earnings beat. favorable pricing continues to help micron saw higher than average selling prices for memory chips. micron's ceo said the global trends taking shape today including machine learning and big data analytics are exciting and create significant

opportunities. look at this stock shares closing at an all tsh time high. they have been on a tear, up 129% the stock is up about 1.5% in early trading. >> landon dowdy, thank you. micron, the chips, they've been hit in the tech selloff >> though micron has been bucking that trend a bit with this latest wobble >> maybe because of better results. keep an eye on shares of microsoft. the business journal is reporting that the company will announce a major reorganization sometime next week the reorg will better align the company with its cloud business. it's been a strong performing stock. the cloud business is to thank >> it has become more important. maybe the reorganization will reallocate resources in that direction. >> i don't think it's a surprise at all >> it's like nike reorienting to its consumer direct business, which is 70% of the growth right

now. >> i will keep an eye out for that on the agenda a trio of economic reports to wrap up the week, month and quarter. may perm income asonal income ad spending a at 9:45 a.m., june chicago pmi a precursor to the ism manufacturing data at 10:00, the final report on june consumer sentiment. when we come back, the stocks to watch including activist activity in hanes celestial and how blue apron fared in its first day of trading. and the headlines out of u'shgt yore watching "worldwide exchange" on cnbc. chances are, the last time you got a home loan, you got robbed. i know-- i got a loan 20 years ago,

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. welcome back to "worldwide exchange." if you're just waking up, it looks like u.s. equity indexes are looking to bounce firming up after yesterday's selloff. just modestly in the green so far. lock look at the ten-year treasury, it has surged up towards 2.3%. not quite there, but tilted to the upside could be a market mover for the banks today. some specific movers to talk about. shares of hain celestial are popping in the premarket news that engaged capital has taken a 9.9% stake in the company. engaged making a big move to hains board by adding seven

candidates to the eight-member board. blue apron slipping below the ipo price of $10 a share in the premarket after the stock finished the first day pretty much where it started. shares of american outdoor brands under pressure after weaker than expected guidance for the first quarter. shares of aobc down nearly 10% in the premarket what happened with blue apron yesterday? >> priced at the low end of a lowered range. it mostly hung around a bit above the ipo price. still skepticism about the business model and whether it can scale. they got it out before the july 4th victory. >> bang-on flat as wilfred frost would say. >> not what you price it for >> exactly more stocks to watch cara therapeutics falling after posting mixed results for its osteoarthritis drug. patients treated with the drug did not experience significant

reduction in joint pain. bayer lowering its outlook for 2017 the company warning it will take an earnings hit due to high inventories in its brazil operation and weak performance at its consumer health division. roche is buying mysugar for an indisclosed price this as roche moves deeper into app-based health services. a scaled back version of president trump's travel ban did take effect last night the measure is stripped of the provisions that sparked chaos at airports pm applicants. the government altered its definition of a bona fide relationship adding fiances of

people in the u.s. being added to those exempt from the ban. and china urging to halt the sale of 1$1.4 billion in arms t taiwan congress was aware of seven such sales. the u.s. is the sole arms supplier to taiwan which china says is part of china. china's embassy released a statement saying the wrong move of the u.s. runs counter to the consensus reached by the two presidents in mar-a-lago and the positive development in momentum of the china/u.s. relationship. president trump today will be meeting with south korea's new president for a second day in washington. the two men and their wives had dinner at the white house last night. trump suspected to press president moon on trade disputes over cars and steel. the president has spoken publicly about trade imbalances with south korea and has

threatens to tear up a trade agreement with the country we'll be listening for any talk of that trade deficit with korea. they have been a big export manufacturing powerhouse along with china, vietnam. >> a lot of people expect a measure on steel imports south korea would be a big player in that, and i believe the president has not held a press conference after the last few foreign leaders visits now to the senate's healthcare bill. the senate majority leader mitch mcconnell is reworking the measure to get the 50 votes necessary to pass it mcconnell is trying to appease both sides reports say republican leaders plan to reduce insurance mandates and raise tax deductions for health savings accounts coming up, today's trending

stories. overnight, jay-z dropping hits latest album why one of his tracks is a full-on apology to his wife, beyonce. and why the internet is going crazy over this. as we head to break, here's the national weather forecast from nbc's bill karins good friday morning to you time to get into our getaway day forecast thunderstorms in missouri and oklahoma, areas of kansas. some of those storms could be strong wind damage is the biggest threat airport delays possible in detroit, buffalo, albany, louisville, indianapolis and oklahoma city. maybe even little rock and memphis. 37 million people could be affected by strong thunderstorms. warm day in the mid-atlantic, sneaking up to new york city atlanta and the southeast could deal with afternoon thunderstorms. as we head into the weekend, a lot of storms dotting the map in the east afternoon and evening is when

the best chance of storms could run your plans sunday, ning things look bette. re "rlidexange" when we come back

welcome back to "worldwide exchange." i'm sara eisen here with mike santoli. futures pointing positive after another selloff on wall street yesterday. dow futures up 48. s&p are up about 5 nasdaq futures importantly up 8

after another sharp slide for the tech heavy index, down 1.8% at the close nasdaq having its worst week of the year since back in december. let's show you the f.a.n.g. stocks in the early market action see which indication we're getting. a little bit lower, even after they sold off hard yesterday we'll see if that sticks later time for top trending stories. jay-z's new album 444 dropped at midnight it's been met with some angry fans 444 was slated to be exclusively available through tidal and sprint but only people who signed up for tidal and sprint before the album's release will be able to sulk's access it.

but the real story is around jay-z's lyrics in 444 he addresses cheating allegations and seems to confirm his mistake. we never knew if that was for real or in tnot. >> i hoped there was a private apology before this. a year plus is a strong stretch. >> airing it out in the new albums >> there was an apology, she just gave births to twins. >> at some point there was an implicit apology >> we're awaiting the names. >> suspense. still ahead on "worldwide exchange" on this last trading day of the first half, we'll check in on where we stand with a look at winners and losers and james gorman weighs in on the f.a.n.g. sloelff his exclusive comments to cnbc just ahead a baby's skin is never more delicate. ♪ what do hospitals use to wash and protect it? ♪

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good morning, is a bounce back coming? dow futures are pointing to a higher open after yesterday's triple digit decline. and nike soaring in the premarket after confirming a deal with amazon full details ahead. can you believe it it's the final trading day of the week, the month, the quarter and the first half of the year what's on tap for the second half we're breaking out your full playbook it's friday june 30, 2017, you're watching "worldwide exchange" on cnbc. ♪ >> this is not new music

this has been on the charts forever. welcome back to "worldwide exchange" on cnbc. i'm sara eisen >> i'm mike santoli in for wilfred frost. happy half time. what's your takeaway on half time so far? >> better than expected, but showing signs it might get jumpy. >> futures are indicated higher, just a little bit here after a big selloff yesterday on wall street s&p futures are up 6 dow futures up 51. nasdaq futures are bouncing to the tune of 10 points. micron better, that could be a part of it nike helping the dow look at fang stoc.a.n.g. stocks morning, they are all a bit weaker in the premarket. can that be offset by strength in financials? which we are seeing. let's look at the ten-year treasury note yield which helped the banks.

they had good stress tests, benefitting from deregulation, but this has been helpful, having yields tick up to about 2.2. the move has come fast it's gone global we're read nothing what it means and how much of a red flag it is >> financials and energy both u yesterday, so the money is shuttling out of tech and into the growth star kets the overall market was weighed down the rapid rotation out. today is the last trading day of the first half of the year here's a quick check on how things have gone so far. the dow is up 7.7% s&p is better than that, % in terms of price, not including dividends. nasdaq up by more than 14% leading the way this year in terms of sectors, tech up 16%. followed by healthcare, up 15 mrs. and consumer discretionary,

which is up nearly 10% helped by amazon, which is a consumer discretionary stock the worst performers, energy, down 14% telecom, 13% real estate, small and new sector is up, but only by 4.6% >> i think we need to pause and figure out why the sudden selloffs is it the yields is it the central bankers sounding positive on the economy? like they were itching to wind things down but not in an aggressive way >> no. almost everyone was looking at the divergence with the growth stocks like f.a.n.g., up 25%, 30%, 40% facebook pulled back, still up 30% year to date you had this poised situation where any point that it was going to be a different story line with yields going up, the yield curve steepening a bit, maybe an economic acceleration,

you just have positioning that was not prepared >> the question is once we get over this month end, quarter end stuff, has something fundamentally changed? >> no. we're not seeing signs that the economy itself is ready to accelerate just yields going up in the absence of that. the end of may it looked like things were getting squirrely, june 1st we popped right up it seemed like it changed the story for what the month would be. >> so be aware of month end funkiness. >> yes >> checking the asian session overnight. mostly red the nikkei closed lower by a full percent teeing off a stronger yen and weaker stock market hong kong off 0.75%. shanghai comp fared better closing positive korea lower as well. early action in europe, they've lagged the broader market. they lagged the u.s. lately.

the dax is higher this morning up 0.2%. a bit of a comeback. ftse 100 is in the red, just barely looking at the broader markets, oil has been in bounce mode probably up 5%, 6% from last year's lows. wti above $45 a barrel stel lo still looking like it's struggling, but positive throughout most of this week natural gas easing off to the dollar, dollar is also on the defensive. though it looks like today it's a little bit of a counter trend move the euro under 1.14. >> the dollar is down 5% this quarter. worst quarter since 2010 down 2% for the week >> u.s. dollar index got below 96 a lot of people thought that was

important, bringing you back to preelection levels a quick look at gold it's also been really unable to get any altitude you can see that choppy trading range over the last few months, now towards the middle of it at $1,243. morgan stanley ceo james gorman addressed yesterday's selloff and the f.a.n.g. stocks in an exclusive interview last night on cnbc. he said thursday's big slide, to real reason to panic listen >> if we have a healthy correction here, that wouldn't be all bad and watching cnbc today a number of commentators talked about we're due for a five plus percent correction weather seen what's going on in the so-called fang stocks and they're off again today and there's rotation these are aelt healthy adjustments to the markets am i surprised by this not at all >> he also talked about the bank

strength test results that came out this week saying the banks are extremely well capitalized and everyone should declare a little victory certainly he should. >> he should morgan stanley is one of the banks in past years where they had to do more work. stocks to watch today. nike topping the list reporting earnings at 60 cents a share 10 cents bof eabove estimates. revenues also rising the company finally announced it will sell its products on amazon.com nike's ceo mark parker explained the lodger behind the deal on the call last night. >> in the u.s. we're executing a new pilot with amazon with a limited nike product assortment. as we do with all of our partners, we're looking for ways to improve the nike consumer experience on amazon by elevating the way the brand is presented and increasing the quality of product story telling. we're in the early stages.

but we really look forward to evaluating the results of the pilot. >> mark parker not giving a whole lot of detail on what this amazon rollout will look like but saying it will be limited and small. so painting it as more of an experiment i thought it was interesting what sam poser told us at the top of the hour, what they need to get out of this deal is that amazon should stop letting third parties sell nike in order to drive traffic to the nike store on amazon, then he said it could be potentially profitable and drive a lot of growth for nike but we're not there yet. >> nike wants to maintain tight control it has over what products appear where and when >> i think beyond that, on the current quarter, specifically the guidance for fiscal year 2018, this was the last quarter for their fiscal year 201, it was better than expected sort of, you know, this was battleground stock a lot of the bears felt the growth was lacking, they were

not going to get it especially in north america while north america was not a bright spot in the report, they had enough to offset it. they had western europe, china, emerging markets looking better. that led them the confidence to have guidance in the mid single to high single digits which was good enough for the street >> the back drop is we had discussed them announcing this big restructuring. you know, people reading the tea leaves okay this will be a bad quarter they're setting this up to not necessarily please the street. >> that was wrong. >> that was wrong. the stock traded down, now above the levels from before that announcement >> and we saw why they're making that move direct to consumer it's about 35% of their total revenues, but 70% of their growth not great news for the wholesalers. shares of hain celestial popping in the premarket on news that engage the capital has taken a 9.9% stake in the

company. engaged making a big move to hains board by adding seven candidates to the eight-member board. one beat on this, ever since it came back to the market in terms of transparency of financial results after holding it for more than a year, there's been speculation it is the last remaining organic and natural foods player that has not been scooped up by a big food company or a bic company in general. maybe the activists push will get it there engaged capital are the same activists that bought bolder brands which got swallowed up by pinnacle >> 9.9% is not playing around. it's not a token position. >> but it's a smaller company. >> dollar amount maybe not that big, but should give you more sway in terms of getting board seats. see how it turns out probably that strategic value of hain celestial in m&a down the road is probably why the stock did not get hurt worse

>> after the long period of delay, all the problems, specifically the founder is more willing to explore strategic initiati initiatives. shares of micron also popping in the premarket after the chipmaker topped wall street forecasts. and the company formerly known as smith&wesson is also reporting guidance >> smith & wesson expects earnings of 7 to 12 cents a share for q1 the street was looking for 31 cents a share. the ceo saying they expect promotional activity to weigh on margins. american outdoor trimming outsourced gun production as the firm struggles with excess inventory. that will take four, five months to work through.

shares of american outdoor down more than 20% in the past year shares are off almost 10% in early trading. back over to you. coming up, why all of a sudden the eu has a seat at the cool kids table. today's must reads are next. and as we head out, a quick check on the early action in europe we are firming up. looks like a selloff will not continue until the early hrs europe. "worldwide exchange" will be right back

welcome back to "worldwide exchange." time for our must-reads. my pick is in the "washington post." it is titled "the eu has gotten much more popular. what happened? this keys off a couple of surveys among european citizens that shows the eu actually has started to rate more highly in public opinion and basically people saying we see the logic of it. this goes against a lot of the narrative that basically nationalist movements were overtake the fondness for the eu a healing economy may lead to less scapegoating, more political stability. as things get people, people realize they overreacted and their far-right anti-immigrant anti-nationalist burn it down feelings subside so r ashgrampell saying becausee economy has improved and you feel that on the streets, that's a driver of people saying maybe the eu is okay the

i would think the macron victory is the turning point >> if not the dutch. my pick is in the "washington post." it's just out. i picked it because it's going to be buzzy today. it comes from mika brzezinski and joe scarborough on msnbc after the vicious tweets i'll read you a snippet. they clear up what happened in mar-a-lago . >> that was the substance of it. >> they say putting aside mr. trump's never obsession with women's blood, mika and her face were intact. though it is no one's business, the president's attack against another woman's looks compels us to report that mika has never had a facelift, if she had, it would be evident to anyone watching "morning joe. she had a little skin under her

twin tweaked, and this was a known fact they say they're not offended or personally insulted by trump's behavior, they link it to long-running behavior. they say they have known him a decade and criticized his abhorrent behavior they suggest he's not all well they say the trump we knew before the campaign was a flawed character but one who seemed capable of keeping his worst instincts in check, now they say that's unraveling. >> that was part of the story yesterday, perhaps the president was reacting to their comments about his mental state >> i think this will continue because of the nature of it. it was so surprising, grotesque. >> absolutely. still to come, futures pointing to a higher open as we gear up for the final trading day of the week, the month and the quarter. it's half time says mike

santoli. what can we expect for the nex half of the year >> six months approximately. co he're breaking out your sendalf playbook when "worldwide exchange" returns [vo] when it comes to investing,

looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country.

discover how we can help find your unlock. welcome back to "worldwide exchange." i'm sara eisen watching a pop in futures. we'll see if that holds. dow futures are up 57 points s&p up 7.5 nasdaq up 16 after another brutal selloff for wall street led lower by technology. joining us is steve chaverone. works with phil orlando. welcome to the show. >> good morning. >> this turn that we've seen in the markets, where films are doifinancials are doing okay, but technology is starting to wobble. do you think it will continue beyond the month end >> we think the rally has been

built on solid fundmentals, however the extreme move is people looking for secular growth and worry being developments out of washington so we expect as you get some positive surprises on politics that we'll see the market move back to the reflation trade, which will feature financials, energy and industrials >> this return to that reflation trade, where it's value stocks, more cyclical stocks, you think it would be more than an asset allocation rotation move you think it would be policy linked >> that's the kicker you already have seen yields globally move higher over the course of the past week. commodity prices doing better. growth expectations out of europea are improving, that's the driver. >> what makes you think we'll get that >> sometimes when things are too bad not to happen, they don't.

iny t nthink if the republicans no progress on healthcare or tax reform they will be facing a to 18 midterm we think that will provide in . incentive to compromise. >> you run the global allocation fund where are you right now? >> overweight in the u.s. cyclical value and then the portfolios are tactical from week to week we'll be shorter, long in various regions of the world >> within the u.s., you like oil. do you like healthcare ifimistic on policy, will that benefit if we get the healthcare passed? >> in order to get a bill on healthcare, you have to have some compromise between the conservatives and moderates, which probably keeps the impact on the healthcare stocks muted

we like some of the fundamentals in that industry >> the yield move has gotten equity investors attention. do you think they can absorb more here? >> this is where financials are well placed. if you think about the money that moved into dividend strategies, there's a lot of bond proxies there as you get an increase in rifetr on capital, they become dividend darlings again, but without the sensitivity to rates in the negative direction i think that can help drive that move and that sector >> and the other big question, do we take the fed at its word, that it is looking potentially to do a couple more rate increases? is that okay >> yeah. we expect one more hike this year, balance sheet normalization. whether that's september and december, we expect that's the case the economy has handled rate

hikes well the equity market continues to do well. with janet yellen's term ending in 2018, she's keen on getting that balance sheet going >> that's the same thing we heard from larry mcdonald. her legacy, she wants to start und unwinding, it feels like the market is more afraid of the rest of the world going that route. it was okay with the fed raising rates, now that draghi and carney talk about it, whoa >> we've seen the u.s. hit exit velocity we have seen them absorb rate hikes and march forward. we have not seen that yet in europe there's more trepidation there >> the irony is the beginning of the year there would be divergence of policy >> global growth will do that. >> thank you very much speaking of velocity, we have a special guest joining us on the

phone. wilfred frost, do we have you? are you on a bike somewhere? >> i just pulled over, sara. i'm on a road to montolivo how are you doing? >> miss you. loving your pictures tell us about what you're doing. remind us, bring us up to speed. >> yes so as i said beforei'm cycling in aid of the miles frost fund which we set up after my brother passed away a few years ago. it's a big endeavor, milan to monaco yesterday we did milan to turin. 120 miles. it took us 12 hours. pretty much the toughest thing i've ever endured. but it's going well so far >> just based on the direction, is that mostly a downhill or is it a climb >> mike with the technical questions. >> yeah. very good technical question yesterday we climbed 7,000 foot. today it's more like 5,000 foot.

a little easier. yeah it's been tiring but it's been good fun passing through lovely wine country, but not stopping for it. >> we're glad you're okay. i was worried about you with the weather. it looks like it will be sunny, right? >> it's been beautiful so far. a little too hot you might say but it's been good i have to say, overall i'm so grateful for your support, the support of everyone at cnbc and it really helps make the difference on the way. >> you can still donate. donatewilfcycle.com. you're raising it for a good cause. we wanted to draw attention and check in with you, you're missing a week of central speak. >> you missed going through the c-car numbers. >> that broke my heart to miss that thanks >> thank you >> thank you very much bye-bye.

>> wilfred frost, of course donate wilfcycle.com thank you for being here lot of fun >> "squawk box" is next. ♪

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good morning markets now, futures rebounding after yesterday's selloff. we'll get you ready for the final day of trading this day, the week and this quarter. after decades of avoiding amazon, nike joining up with the retail giant. and blue apron off to a lackluster start as a public company. we'll show you how the stock is trading in the premarket it's friday, june 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" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with broin s brian sullivan and andrew ross sorkin brian, thanks for being here today. >> sure. >> a look at the u.s. equity futures. yesterday was a bit of a mess for the markets. this morning a rebound with green arrows the dow futures indicated up by 60 points. s&p indicated up by 8, and even the nasdaq, which saw the biggest declines, they're indicated up by 15 points. we'll keep an eye on all of this yesterday the dow was down by 00 0.8% the nasdaq down by 0.4%. overnight in asia, the nikkei ended the da