stocks looking to end the week on a high note after the nasdaq hit a fresh record. media madness. two more corporate titans reportedly expressing interest in 21st century fox. full details coming up. tesla blew everyone's mind by unveiling a surprise new car. full details ahead it's friday, november 17, 2017 "worldwide exchange" begins now. ♪ good morning warm welcome to "worldwide exchange."

i'm wilfred frost. >> i'm seema mody in for sara eisen. good morning to you. >> great to have you with us great it's friday. >> feels good. >> let's check in on the markets. we did get a bounce back yesterday from what has been a week or so of softness with a few pullback days, no significant gain days until yesterday. we saw 0.8% of gains for the dow and s&p. it was a bounce back from some of that softness but also earnings driven, walmart up 10%. a huge gain. cisco, gap, best buy, some companies reporting earnings to beat forecasts we are called lower. the dow down 40 points the nasdaq down a couple points. s&p down 4 points. that gain yesterday seems a little bit temporary week to date, the s&p before today was up fractionally. the nasdaq is up about 0.6%.

ten-year treasury note has recovered in the second half of the week in terms of the yield rising the price falling. we did fall to the low 2.3s earlier in the week. up to 2.36 now last friday we closed 2.4% asian equities climbing for a second day following that rebound we saw on wall street. minor losses in china, that's been the story that's persisted this week following some disappointing data check out the bond-based index, moody's upgrading india's sovereign rating, including the largest state bank of india. >> we should mention in shanghai, the shenzhen index, the smaller cap index is down almost 5% this week. there's some feerars that the nw

administration is clamping down on credit. the effect on smaller companies and the bond market in china some fears just raising a little bit about that ongoing question of how it deals with this high debt level as it clamps down on credit what happens, and just a bit of risk aversion happening at the moment >> the ten-year on the chinese debt, at a three-year high in europe, early trade there, a mixed session. now we are relatively lower with the dax down good the french cac down by 0.2%. we got some comments from mario draghi just about an hour ago. he says he sees more signs that growth is feeding on itself and inflation is moving steadily away from very low levels. not enough to boost the equity index. >> broader markets, oil prices slipped this week. down nearly 3% coming into today but bouncing back significantly

today. up 1.4%. the dollar board for you, down about a half percent for the week it will be the worst tldollar index weakness since september for the week particularly the likes of the euro gain during the course of the last few trading sessions. the euro is up 0.2%. the pound is really the leader up 0.4 the yen is up 0.5% soft finish to a soft week for the u.s. dollar. gold prices are up slightly, and up slightly again this morning cnbc parent comcast and verizon are both reportedly in talks to buy parts of 21st century fox. landon dowdy has that story. >> good morning. sources telling david faber that comcast approached 21st sentry fox expressing interest in

buying a piece of the media company. comcast all stock offer focuses on the cable networks, movie studio, its partial stake in hulu and international assets. separately dow jones is reporting that verizon is also kicking the tires on 21st century fox. a deal could give the number one u.s. wireless phone carrier ownership over movies to stream to wireless subscribers. sony also approached fox all of this follows news that disney held talks with 21st century fox. one of the biggest names in media weighing in on all the deal talk last night at the net-net onference. here's what less moonves told julia. >> i think we were all shocked by the initial announcement on cnbc about murdoch potentially selling some of his content

assets that surprised me because we envisioned rupert as someone always expanding the idea that he was breaking up some of these assets, having discussions with disney. there are different versions of who thought of it, whether disney approached him, he approached them. the reports from cnbc that day say the talks had stopped. no brian roberts stepped in there >> shares of fox soaring on the reports. comcast shares also trading higher comcast up about 1%. 21st century fox up about 10% in early trading. >> a quick look at the sky price, before we discuss this further. sky, which is 39% owned by fox, also potentially going to be taken over fully by fox as the competition commission in the uk has a look at it that's up nicely 3% this

morning. my understanding of uk competition law means any other buyer like comcast could buy the 39% stake in full, they could wait until fox completes its deem and buy the 100% stake in full, but the limbo is not possible you can't buy the 39% stake and have a deal on the table for the rest let's continue discussing this joining us is midtown partners rich tullow. good morning to you. fascinating development in this media merger merry-go-round. what is your initial take on the story? the first question, assuming that bids will be put on the table, will competitional authorities allow it happen here stateside? >> i think this particular deal, given that. >> first, good morning i think this particular deal

given that comcast through nbc universal and fox studios control a lot of production assets roughly 30 of the top 50 watched shows on netflix are produced by comcast universal or fox when you look at the global market from duck shproductions, combined entity will have an enterprise value of 4$400 billion. we're talking about a slightly different animal than the at&t time warner deal, which is vertical this is very horizontal. they will probably take about $2 bill rion dollars out of the combined business. they all seem predictable and in line with the relative

valuations of fox and comcast. i wo look at other companies smaller down the value chain, like amc, trading 30% less than fox. it's it's having a big lift if these deals are tangible >> if any deal faces regulatory hurdles, how do you trade these stocks we've seen comcast and 21st century move on this report. >> if you're going to be buying the target, fox, you have to be really confident in what you think of the business. the valuation range is $14 at a low level, $32 at a likely level, much higher in the competitive bidding environment. if we're talking about a verizon deal, be comfortable owning fox up to $35 a share. talking about this deal with nbc

universal, i would say as an investor you have to be hesitant in terms of what you're paying $27 a share if you're bullish on the core businesses, that's not a particularly bad price these are not recommendations as far as investment, i'm just letting you know you have to be careful in terms of the regulatory approval process given what's going on with time warner and at&t. >> rich, thank you very much for joining us two other quick points i would sae add, on the point for sky that wouldn't worry competition authorities here, comcast doesn't have much international exposure, you can see the sense of having that you would think uk authorities wouldn't have the potential same issues they do have in terms of corporate governance concerns or

media plurality concerns with fox at the moment, which is an ongoing decision separately, i think one of the key factors that comcast would be looking at here is the hulu stake. when they saw disney looking to buy fox, including the hulu stake, that would have given disney two-thirds ownership and control of that. if comcast buys it, they have two-thirds ownership it's a key online platform for comcast. it also could be a defensive fightback to make sure one of their rivals doesn't control a key point. >> star india has also been a profit entity under 21st century fox. let's pivot to politics. the house passing a nearly 1$1.5 trillion overhaul of the tax system the bill slashes the tax rate on corp ragorations and private businesses, overhauls the tax code and eliminates the estate

tax. president trump tweeted beg win in the house for gop tax cuts and reform 227-205. zero dems, they want to raise taxes much higher, but not for our military so what happens next >> it goes to the senate next. the finance committee approved the bill last night. after thanksgiving it will go to the full senate floor. a number of problems that they face in the senate the republicans raised questions about the deficit impact, there's senators who raised questions about repealing the obama care, individual mandate as part of the legislation there are hurdles to get over. the chances that the republicans can pass this bill in the senate are good then it goes to conference xhetity, thxhet i committee and then president trump. >> yesterday on the surface it should have been seen as a

positive development day when we look at this bill. the dollar moved only fractionally higher. it tends to be correlated with good news on that. that points to the issues people see ahead in the senate, like senator ron johnson's comments eventually you're saying that the republicans can pass this in the senate >> i think they can. the political considerations for them are they can't go through 2017 without having done anything there's a lot of pressure for them to get a legislative victory. somebody like ron johnson, i talk to people inside the administration who think he will be a yes he wants to see changes on the pass through rate. they don't think he'll block it. they could lose susan collins. the general thinking is they will do whatever they have to do to change this legislation in a way to get 51 republican votes in the senate and have it sent to the president's desk. does that mean the corporate rate might change. it's possible. they're desperate to get a bill done >> talk about the timeline is this something that can

happen in 2017 >> it's going to be hard, not impossible if the senate takes it up the week after thanksgiving and passes it, you have to iron out the differences between the house version and the senate version. the problem is in december in washington, you have government funding running out. then we will talk about needing to raise the debt limit. other stuff gets in the way of getting the conference report done it is possible it happens in december it could slip to january, which the president won't like it doesn't make that much of a difference >> when we think about the issues on the table to reconcile between the two bills, is the 20% corporate tax rate on the table for december cushion or not? >> according to the administration, it's not they say 20% bottom line, we're not going higher they want 15 if you get into a situation where you need more revenue, because to appease districts, you give some of that back, you allow people to deduct state and local taxes, you need some

revenue, that could bump it up to 21%, 22%. that's long been a possibility, white house says no way. i think it could go slightly higher to get more revenue, make the deficit impact less. >> ben, how do you rate the president's trip to asia >> i guess -- "b," "b" minus not disastrous there's not a lot of giant deliverables he's come through not a lot of big deals made, trade deals. he said positive things about it it was okay, not great >> great stuff good to see you. still ahead, rushing to go public six companies making their wall street debut today one of the busiest days in years. we'll tell you what's driving the big year-end push in ipos. and later, tesla blew everyone's mind with the surprise unveil of a brand-new car. details when "worldwide exchange" returns. my ambition?

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let's bring in john martinco from drexel hamilton good morning >> good morning. >> sum up the year for us and particularly q4 how that is shaping up in terms of volumes >> there seems to be acceleration this is typically what we see around the holidays going into thanksgiving the high water mark was 2014 with 275 ipos, we're on pace for 150 after today. what is that in terms of market value, how does that stack up this year? >> was about 90 billion issued in 2014. and the market value is obviously a touch lower than that i think what you're seeing today with the six ipos, i expect them to trade six different ways. two i'm watching today, sale point and stitch fix >> tell us about those two >> sale point is interesting there seems to be a fatigue that is taking place this week on these ten ipos

let's not forget in the primary issuing space there's 25 secondary and block trades a lot of paper hit the market this week. for sale point, it did build a very nice book it priced at $12, that's above the range. all the other ipos today price below the range. >> stitch fix, what do you make of this company, backed by big names. >> i feel like there's a bit of hair on this one all those investors and portfolio managers have done their work, due diligence on stitch fix e-commerce in a box is a bit of a hangover from blue apron we saw what happened to blue apron. a lot of concerns around this. i feel that the banks that are bringing this to the market today will do a fantastic job. they did reduce the shares from 10 million to 8 million. they took away some supply they also will price this thing below the range.

the initial range was 18 to 20 i fully expect -- i believe in this company i like them. i think the stale ayle and the o algorithms make sense. again, what you will see now, next week is three and a half trading days around the thanksgiving holiday once you get past thanksgiving, you have a small window of three, four weeks before the christmas holidays and december holidays to conduct a full ipo all those ipos, the robustness built will follow us through the first quarter of next year >> john, thank you very much up next, tesla's big surprise the carmaker unveiling a new star at an event last night. no one knew it was coming.

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>> people have asked us for a long time, when are you going to make a new roadster? we're making it now. >> elon musk there shocking the car world last night but unveiling a next generation roadster here's the thing, no one knew it was coming tesla rolling out the new car at an event in los angeles. musk says the new roadster will be the fastest production card

ever made. he said the base mod. >> caller: model can go from 0 to 60 in 1.9 seconds. he says it has the longest range of any electric vehicle with the ability to go 620 miles on a single charge. customers can reserve the new roadster with a deposit of $50,000. tesla also unveiled its new electric semi truck last night, which had been expected. big announcement lots of buzz still questions over production. if they can hit the demand as it comes in for each model. >> that's always been a question for tesla. let's switch to media. cbs ceo less moonves sitting down last night with julia at the net net event. they talked about reports of a deal for parts of 21st century fox. they also discussed how moonves views competition and the need for partnerships

>> the competitors of today are very different than it was a few short years ago. because now when you have netflix and amazon producing the amount of original content they're doing, they're a true competitor to all the content companies. now we're competing against monstrous companies. disney is six times as big as we are. comcast is six times as big as we are netflix market cap is huge now amazon, the number one company in the world is producing content. we're sort of like an old-fashioned production company. we're a small guy. eventually are we going to need do partnerships with other content companies? the answer is probably yes >> let's check on shares of cbs, they are up better than 2% a strong session for 21st century fox, discovery communications, all the speculation of mergers, buyouts

fueling this media sector. >> i always look forward to that 9:00 a.m. hour, seeing carl, jim and david dissect all of this news david has been doing extraordinary work breaking some of these takeover stories. >> good discussion coming up indeed >> great discussions coming up here on "worldwide exchange," including a round up of the global market picture and a look at other top stories including that merger. we'll be back in a couple minutes.

tostocks pointing to a lower open we'll tell you what's dragging things down. a mega media merger. two more companies expressing interest in 21st century fox. and forget the turkey and stuffing pringles is trying to work their way on to the thanksgiving table. it's friday, november 17, 2017, you're watching "worldwide exchange." ♪ good morning a warm friday morning welcome to "worldwide exchange" on cnbc i'm wilfred frost. >> i'm seema mody in for sara eisen. let's look at markets.

we saw a strong rebound on wall street yesterday, but we are set to fade. the dow jones set to open lower by 4 poi2 points the s&p down by 5. the nasdaq down by 3 the big mover yesterday was the passage of that tax bill the u.s. ten-year, the story there has been rising yields the ten-year yield now at 2.63%. let's look at markets around the rest of the world. some declines in asia, in particular in shanghai the shenzhen index, smaller companies in china down almost 5% this week keep an eye on that and bond market yields which have picked up a bit over the course of the last week. catching the eye of some investors as the government tries to clamp down on credit use and the effect it's having on some more riskier assets in the market

japan up 0.2%. hong kong up 0.6%. european stock markets for you, down about a half percent or so. >> let's look at oil prices. interesting move there, boosted by remarks from the saudi energy minister who said opec will extend production output cuts. these comments coming ahead of that opec meeting in vienna on november 30th. so oil prices higher across the board. slightly different story than what we saw earlier this week. ice brent crude at $61 wti crude at 55.86 switching focus to currencies, interesting move in the dollar the u.s. dollar dropping against a basket of currencies that's despite this encouraging news on the tax reform front you can see the euro is at 1.17

against the dollar significant move against the yen. the dollar is down by 0.4% against the japanese yen pound higher by a similar amount against the greenback. to round things off, let's look at gold. 1,283, up about $5 >> on the dollar, we are set from the weakest week for the broader dollar index since early september. >> just when we thought we were getting higher wall street is watching news out of washington. the house passing a nearly 1$1.5 trillion overhaul of the tax system yesterday president trump just tweeting about it great numbers on stocks and the economy. if we get tax reform and cuts, we'll really see some great results. joining us to discuss this is drew mattis. good morning to you. good morning

>> let's touch on the tax reform stuff. interesting we didn't see a bigger reaction in the dollar and yields on a positive day of news in terms of tax reform progress is that because there's still big question marks as to whether this can get through the senate or not >> i'm not sure how big of a question mark there is, but the final form of the bill is in flux i think people want to wait and see, particularly after what happened with healthcare so i think people are beginning to come to the idea that something will happen, but they're not sure what that something is the devil in tax cuts is with the details. >> or does this move in the currency market and perhaps in futures suggest that tax reform is priced in >> i'm not sure it was already priced in. people could make that argument. i'm not sure people were willing to go that far with it when we look at how the markets behaved over the last couple months, i think a lot has do with reforms on the regulatory side and the fact that the regulatory pendulum doesn't just swing in one direction

>> more broadly in terms of the data on the economy, you say we see little risk of recession any time soon. so you're upbeat in terms of the current growth momentum can continue and improve >> we are. if you go back and look at the two economic cycles that went the longest compared to their peers, it was '61, the kennedy tax cuts, and '82 with the reagan tax cuts. these tax cuts in 2018 may be exactly what gets us to 11 >> wilfred, you remember that '61 tax cut. >> i did catch the end of the reagan one, which i'm not sure you did. >> tbd >> she never reveals her age >> i never felt so old in my life >> asia, two different stories being discussed today. one is the credit situation in

china. that's getting more attention, especially when you look at the bond market. india, another big moody's upgrading its sovereign rating where would you put your money if you had to choose >> i think there's a lot of positives for india. there's a reason they're getting upgraded it was a little bit of a surprise it came this early. the fundamentals there are looking better china has some issues going forward. they're trying to manage it. the central bank has been trying to reign in certain areas. at the same time making sure liquidity stays the course they've been successful managing that process i wouldn't bet against either one of them. >> safe bet. >> safe bet. thanks for joining us. the top corporate story this

morning, cnbc parent comcast and verizon are both reportedly in talks to buy parts of 21st century fox. with the full story, here is landon dowdy >> good morning. courses telling david faber that comcast approached 21st century fox in buying a piece of the media company. the offer focuses on fox's cable networks, movie studio, par stake in hulu and international assets the talks are ongoing. dow jones is reporting that verizon is also kicking the tires on 21st century fox. the deal could give the wireless carrier ownership of movies and tv shows to stream to its subscribers. also sony's entertainment unit also informally approached fox, this follows news that disney held talks with 21st century fox. one of the biggest names in media weighing in on the deal

talk last night at the net net conference here's what less moonvles moonv said >> i think we were all shocked by the initial announcement of murdoch selling some of it we always envisioned rupe pu ee someone who was always expanding. there are different versions of whether disney approached him, he approached them the reports from cnbc that day said the talks had stopped no surprise, brian roberts stepped in there i think what it says is content assets are unbelievably valuable >> shares of fox soaring on the reports. comcast shares trading higher. comcast up about 1%. 21st sentry fox up about 10% back over to you

>> checking in on the sky price in london. that has enjoyed a bounce. sky prices up 3% in london trade. still 15% or 16% below the full takeover price that fox agreed to the fox takeover in its own right is hitting a few bumpers at the moment. either way, up 3% this morning gap reporting third quarter earnings and same-store sales that beat forecast results, driven by turnaround efforts at gap and old navy the retailer is raising its full-year profit williams-sonoma posting better than expected third quarter profit, but the retailer is narrowing its earnings outlook for the year the company is also buying out wood for 1$112 million in cash.

applied materials third quarter results beat forecasts they gave upbeat guidance for the fourth quarter. barns & noble rejected an offer by an activist investor to take the company private the "wall street journal" reported sandel asset management proposed the deal which valued the book seller at more than $9 a share or 6$650 million barnes & noble says it is not bonafied as the largest shareholder would not participate. ross stores reporting better than expected third quarter results on positive same-store sales, but the clothing retailer is approaching the current quarter can caution, saying this could be another highly promotional holiday season. shares of splunk are surging. the data software provider beat third quarter earnings targets the company says it landed more than 450 new enterprise

customers. splunk is also raising its full-year revenue outlook. that's a fun word to say splunk >> splunk. >> try it. >> i just did. >> reminds me of being in an arcade let's play splunk. >> or sort of a medium-aged board game meant for children but adults still like playing it. >> i'm on board. >> also a company up 15% this morning. serena williams and alexis ohanian have tied the knot they held a star-studded beauty and the beast-themed wedding beyonce, kim kardashian and anna w wintour were spotted arriving at the celebration. as a party favor guests were given a golden trophy party favor modeled after williams' 12

grand slam title awards. >> little harsh on him beauty and the beast apt for her. >> a nice party favor to take home >> maybe he was the prince by the end of the film. >> perhaps >> am i overthinking this? >> i think you're right. pringles is looking to become part of your upcoming holiday. the brand is rolling out 8 new chip flavors based on traditional thanksgiving day foods. the flavors include turkey, mashed potatoes, stuffing, cranberry sauce, creamed corn, green bean casserole, mac and cheese and pumpkin pie right now it's only a pilot taste test there is limited availability. >> very innovative i would try the mac and cheese flavor, but green bean casserole, i'm not so sure i am making green bean casserole for thanksgiving next week that's my duty

when's dinner? >> maybe next year >> i will sit home with the pringles >> you are always welcome at the mody house. twitter could make tweet storms an official feature the social media company is testing a dedicated feature to make it easier for users to send multiple tweets at once. it allows users to add more than one tweet to a thread by using a plus icon. the test is only available to people a part of twitter's experiment program >> think got criticism for doubling the characters, i think it's great >> i do, too we like to review these tweet storms, especially when it involves famous people and a viral video alert. boston dynamics is at it again the company unveiling the new

version of the atlas robot it can now jump from one elevated block to another and do a ba backflip will it do the backflip? not yet. impressive i don't know if it's coming. it looks like it is. that is impressive >> that is cool. >> so much better than my flexibilities and ables in the j abilities in the gymnastics room >> perhaps >> no perhaps, i'm telling you >> jeff immelt speaking out. the former ge ceo says it is something he regrets >> it's a practice i wish we had never done it was never seg iomething i approved i never really talked to the guy in corporate air i was just about the work.

i was. it was a terrible practice as soon as we found out about it, i stopped it >> you never noticed it? >> i never thought about it, looked at it, i was focused on the job. >> weak half-hearted defense this konls after the "wall street journal" reported that immelt had an empty business jet follow his plane on trips. >> perhaps defensible if you were nailing it in terms of company performance. >> exactly >> given the shocking share price decline -- >> earnings, the challenges they're facing to sports, the latest in the sgag between t saga between the nfl and jerry jones, when the nfl holds meetings next month, they will hold a special session to deal with the extension of the contract for roger goodell jones says he has issues with

the compensation and how the nfl handled players national anthem protests he denies his objections are tied to goodell's decision to suspend elliott over alleged domestic violence. much more ahead on "worldwide exchange. first as we head to break, want to draw your attention to european markets we're lower across the board the ftse 100 faring the worst, down about 0.3%. as we look at the pound rallying against the u.s. dollar. orwi ehae", you're watching "wlddexcng on cnbc this is not a cloud. this is a tomato tracked from farm to table on a blockchain, helping keep shoppers safe. this is a skyscraper whose elevators use iot data and ai to help thousands get to work safely and efficiently. this is not the cloud you know.

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welcome back to "worldwide exchange." i'm wilfred frost along with seema mody time for our must-reads. my pick is titled china's balancing act on debt is becoming trickier. this is a take on an issue twoowe'v been aware of for a long time but with yielding spiking this week, there is more talk about it they write, the tentative withdrawal of credit from the economy is making the bond market jumpy the central bank yesterday added more reserves into the financial system that it has in almost a year to stem government bond

prices liquidity injections are not a long-term solution to a debt problem, neither is moving debt around so an outdated take on the current situation of debt in china. some good charts and stats reminding us where the situation is >> a lingering concern china's debt situation has been a big challenge for five years now or longer. yet it is still the world's second largest economy still a big destination for corporations when you look at the data, especially the aggregate financing and new loan growth financing that came out this week, there's concerns >> this is a small dip just to keep an eye on it. they have done remarkably well with this issue. still ahead on "worldwide exchange," wrapping up a wild week on wall street. we'll get you set up for your

friday trading session by taking money from foreign governments and threatening to shut down news organizations that report the truth. if that isn't a case for impeaching and removing a dangerous president, then what has our government become? i'm tom steyer, and like you, i'm a citizen who knows it's up to us to do something. it's why i'm funding this effort to raise our voices together and demand that elected officials take a stand on impeachment. a republican congress once impeached a president for far less. yet today people in congress and his own administration know that this president is a clear and present danger who's mentally unstable and armed with nuclear weapons. and they do nothing. join us and tell your member of congress that they have a moral responsibility to stop doing what's political and start doing what's right. our country depends on it.

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we're approaching the top of the hour, so the team is getting ready for "squawk box. andrew ross sorkin has a look at what's coming up good morning >> how are you this morning? we have a couple of big thing going on here. we'll talk about 21st century fox and what may emerge as a bidding war for that company, parent company of our network, comcast now in the hunt along with verizon we'll talk about what that means. and we also will be speaking with the treasury secretary today. we will get a download on where things stand on tax reform and where it's all headed. where he sees some fault lines then i guys i thiyou guys may bu aliens or stranger things? >> i haven't watched them. >> we'll have the stars of the show on.

that's what we got >> we look forward to that quick look at futures here, which are pointing lower, having had a nice bounce back yesterday. joining us is tony crenze. in general the course of this week has seen the longer end of the curve slip what is your faktake >> the flattening of the curve is more about the view of interest rates the ecb keeping their deposit rate at minus 0.4% for japan, the same story. those are two major parts of the world where capital flows to the united states, where interest rates are relatively high. the u.s. ten-year in the 2.30s, the japanese ten-year at zero. that's the major influence

it may evolve and change could be a different take. when one looks at financial conditions, specifically equities, clearly there's optimism about the future, not negatively that some might read into the yield curve >> tony, your thoughts on the dollar it's moving lower against the japanese yen, the pond, the you're row does this have to do with washington or the economic data? >> this year the dollar has fallen, so one should think first about the implications for inflation, and recent data seems to suggest it will start to boost a bit on the good side this is visible in producer prices, also in import prices and the goods portion of the consumer price index all this should mean somewhat higher inflation rates for the united states in 2018. therefore more rate hikes from the fed, therefore more -- the likelihood of the dollar stabilizing and probably not falling in the same way it did

this year when there was disappointment in the growth rate the growth rate in the u.s. picked up, first time in three years. we had a boost from the fact global growth picked up. that benefited everywhere, including the u.s. do we now need to see more domestic led growth to stay around 3%? >> of course the u.s. economy is closed it doesn't depend much on exports. even though the globe has been strong, it hasn't been the driver consumer spending has been a driver and a pick up in capex. we should expect continued strength in the global economy look for it near 6%, 5 1/2 to 6% global growth and nominal gdp. it will move from the 2.2% pace perhaps higher this is something that pimco will hash out in its quarterly meeting. it looks like there's a chance it could pick up for you

one last point, consumer spending is strong >> we have to leave it there anyoveuc mh. >> thank you >> "squawk box" coming up next no matter how the markets change... at t. rowe price... our disciplined approach remains. global markets may be uncertain... but you can feel confident in our investment experience around the world. call us or your advisor... t. rowe price. invest with confidence.

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good morning fox sparking a media feeding frenzy two more corporate titans reportedly expressing interest in buying parts of the company kind of the same parts disney was reportedly looking at. full details coming up late last night elon musk capped off his electric semi truck presentation with a surprise announcement. i got to say, this thing -- a new roadster, seats four 0 to 60 in 1.9 seconds, a really beautiful shape and body we'll have more details straight ahead. the house passing its version of

the tax reform bill. attention turns to the senate where it got out of conference last night a battle brewing among republicans. we'll get a live report from washington it's friday, november 17, 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. right now it's time for the global markets report. let's look at u.s. equity futures. yesterday a strong day forlt te markets, dow ended up about 187 points, thanks to walmart and cisco and the passage of the