president trump preparing to address the world economic forum in davos, switzerland. first he sat down with our joe kernen we'll bring you highlights of their far-reaching market moving conversation ahead. first a key read on u.s. economic growth looks to dominate the conversation. expectations coming up >> and just do it. why bill ackman is taking a stake in nike. it's friday, january 26, 2018, "worldwide exchange" begins now. ♪ good morning a warm welcome to "worldwide

exchange." i'm wilfred frost. >> i'm courtney reagan in for sara eisen on this friday morning. we made it >> absolutely right. happy friday let's get to market action we did see a half percent of gains for the dow yesterday. the s&p and nasdaq just either side of flat week to date, all three are up more than 1% the dow slightly leading the pack is up 1.2%. we expect a small positive open today. the dow up 34 points ten-year treasury note, we have seen yields slip over the course of the week. even though the theme of the year has been a steep ee eenenel curve, we have had a flat yield cur curve. looking at trading overnight, japanese nikkei average closing down just slightly that's about the only average in asia that closed lower for the

session. you can see the shanghai higher by a third of a percent. the hang seng up 1.5%. the dollar was fluctuating yesterday between second starety mnuchin's comments about the dollar and president trump's comments to joe kernen later on. so asian equities we know pays close attention to the dollar moves. so a trade reaction in that if we can look at what's going on in europe, so far things are mostly higher in europe. yesterday it was mostly negative europe 600 down 0.6% doesn't sound terrible but that was the worst daily performance in about a month since the end of december. ecb leaving monetary policy unchanged, leaving that benchmark interest rate alone on thursday morning so we saw action in the euro

president trump will address the world economic forum at 8:00 a.m. eastern, first he sat down with joe kernen in a wide-ranging interview here's what the president said in line there. about those gathering in davos. >> when i came to davos, i thought of lots of people who want to invest, lots of money, and they're all coming back to the united states. they're coming back to america i thought of it much more in those terms. after i said i was going, there were massive stories about the elite, globalists, planes flying in it's not about that. it's about coming to america, investing your money, creating jobs, companies coming in. we're setting records every week, every day. you can see apple with $350 billion. most people thought they meant 350 million, which would build a nice plant i spoke with tim cook. you remember in my campaign i used to say i won't consider

this great unless apple starts coming in and investing big money doing the plants but so many companies are coming in >> joe also asked the president about trade. >> i like bilateral, if you have a problem, you terminate when you're in with many countries, like tpp, so you have 12, you don't have that same -- you don't have that same option. somebody asked me the other day, would i do tpp here's my answer i would do tpp if we had a much better deal than we had. the deal was a horrible deal nafta is a horrible deal, we're renegotiating it i may terminate nafta, i may not. we'll see what happens nafta -- i told stadiums full of people i would - >> so you might reenter -- are you opening up the door to reopening tpp or -- >> i'm only saying this. i would do tpp if we were to make a substantially better deal the deal was terrible. the way it was structured was terrible if we did a

substantially better deal, i would be open to tpp >> that's interesting. would you hand -- >> are you surprised to hear me say that >> yeah. i'm a little taken aback >> the deal was a bad deechlt like the iran deal is a bad deal >> you said maybe nafta, maybe not nafta. can you give an indication of which way you're leaning a lot of ceos on here, they all seem to acknowledge that it's 30 years later, there's a lot of change, is that make a lot of sense. but not to abandon the deal. >> we have a trade deficit with mexico $71 billion a year we have a trade deficit with canada of a substantial amount of money i have a number, they keep argui arguing. i won't say it i won't say it's $17 billion. we have a trade deficit with canada, a massive trade deficit with mexico. we have to do something. >> are you leaning in towards staying in or -- >> i always said during the

campaign, as you always notice and said a couple times, i've fulfilled a lot of what i've said i'm only here a year i think i have four years, maybe another four years we'll keep going, and see what happens. but we have a $71 billion trade deficit with mexico. we have to do something about it will we renegotiate it i think we have a good chance, we'll see what happens >> the president also talking about the dollar saying comments by steven mnuchin earlier this week about a weaker dollar were misinterpreted >> i think they were taken out of context i read his exact statement i will tell you where i stand, which is ultimately very important. number one, i don't like talking about it because frankly nobody should be talking about it it should be what it is. it should also be based on the strength of the country. we're doing so well. our country is becoming so

economically strong again, strong in other ways, too, by the way, that the dollar is going to get stronger and stronger and ultimately i want to see a strong dollar. >> the dollar moving markedly higher yesterday after those comments you can see that jump at about 2:00 p.m. eastern time that's when we rolled out that dollar comment on cnbc pretty huge intraday market. >> it was. >> clearly whether steve mnuchin's comments were taken at face value or misinterpreted, they took it as stepping away from a decades old policy of a stronger dollar. president trump drawing a line under that very loud and clear, and we saw a move back to the weaker dollar today. which shows the other fundamentals at play here. a clear massive intraday swing the other thing is that was a big swipe to the treasury secretary, i think >> it was. >> people shouldn't be talking about it it's me. >> that kleiline even though we shouldn't be talking about it, i am going to.

>> on that note, in terms of members of his team, clearly when he was talking about tpp there, nafta, he said lig lighthauser, he didn't mention secretary ross the tpp thing, that's a huge piece of news if they are reconsidering it to put that in contrast of the president's optimism, it will be much harder for the united states if they want to renegotiate to join something that's already gone ahead with lots of other countries. he's saying himself bilateral deals are easier, but the uk is finding out how hard it is to renegotiate with presh termfres. maybe the tpp deal as arranged by president obama wasn't what he wanted, but it will be much harder now for him to find a better deal to join.

either way, market moving and fascinating on the tpp >> perhaps he should consult his good friend, theresa may about those trade talks. >> we are just hearing from senior administration officials about the president's speech this morning his first theme will be america is open for business again he'll talk about regulations, creating a business friendly climate and environment. expect the president to talk about leading economic indicators to show how well those policies are working the second theme he'll discuss america's engagement with the world. the third theme, collaboration in areas of common cause just about three hours away from this speech. we'll know a bit more. >> absolutely. the other takeaway from the speech which comes at 8:00 a.m., apparently it's only 15 minutes long, contrasting president macron who went for over an hour only 15 minutes long that's interesting i'm not sure if there will be a proper q & a, unlikely at this

event. at 6:00 a.m., we have the full interview with joe kernen. it's direct q & a as opposed to a speech from the president. fascinating stuff. we look for more at 6:00 a.m. and the president's speech at 8:00 a.m >> we will go back to the u.s. in terms of what's on the agenda today. a pair of economic reports 8:30 a.m. eastern, we'll get the first read on fourth quarter gdp. december durable goods at the same time. pal m palmolive aon the earnings call >> ackman has reportedly taken a passive stake in nike. ackman announced the position at an investor dinner last night. it's unclear how big that stake is but pershing has been building

since october and bought it at $52 a share. ackman does not intend to push for changes at nike believing it's on the right path last october nike said it would shift from mediocre retailers to focus on 40 stores from its network of 30,000 partners nike shares have recently returned to levels last seen in 2015 the stock is up more than 1% in early trading today. ackman and pershing square are under pressure after making a bad bet on valeant the fund has not made money in the past three years, though the journal does say it's up about 30% since buying into nike >> we'll follow that closely stocks to watch today, shares of intel rising on better-than-expected earnings and revenues results driven by strong data center sales the company offering upbeat fuel-year guidance and raising its dividend by 10%.

don't miss intel's cfo live on "squawk alley" later this morning. that's one to watch. a mixed quarter for starbucks. earnings beat but revenues and same-store sales in the americas region fell short. the company blamed weaker than expected sales of its holiday drinks in the u.s. starbucks is warning its global cafe sales growth will be at the low end of the forecast. shares are down by 4%. starbucks ceo will join "squawk on the street" at 9:00 a.m. eastern time western digital beating the street on the top and bottom lines. the company giving strong forecast for the full year saying the flash memory market would grow faster. this is important as analysts were worried about a drop in memory prices. shares of western digital are under a bit of pressure, down 1% e-trade's fourth quarter profit falling 13% on a charge related to the new u.s. tax law. the discount broker is also buying 1 million accounts from

capital 1 for $170 million the move will add 1$1.8 billion in cash and margin loans to e-trade's balance sheet. it's off about 2%. intuitive surgical reporting better than expected fourth quarter results on higher sales of its robotic systems the company is warning of thinner margins and it will spend heavily on research and development. astro zeneca says results from a late stage clinical trial show its inhaler for copd improving lung function. the company will submit apply kegs to regulators in china and japan this year and europe and the u.s. in 2019 it's up 1% coming up, taking aim at amazon two big retailers are bringing the fight to the company's turf. as we take a break check out prices of bitcoin. down 6% or so.

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welcome back to "worldwide exchange." let's give you an update on market action. pointing higher this morning 37 points for the dow. yesterday the dow was up a half percent. the other two indices essentially flat on the final trading day of the week, we're up about a percent or so for each of the indices. oil prices up markedly for the week coming in today up 3.4% for the week as a whole. wti flat this morning at 65.6.

>> making headlines, potential ipo news dell is reportedly exploring the possibility of acquisitions and maybe going public dell's board will meet later this month to consider options walmart is taking aim at amazon the retailer is teaming up with japanese e-commerce firm to sell e-readers and e books. they will also launch a new online delivery service in japan. right now by the end of year, they'll have the order online grocery pick up in store to 2,000 walmart stores a big driver for walmart >> the other sort of story that was slightly missed over here is the earliest mover online

grocery delivery company in the uk, they moved into canada on monday which is an interesting move clearly not in the united states itself, but a competitive space no lots of people playing it. it's competitive >> it's been figured out over in the uk much more so than here the denser population center helps. you hahave alibaba also. nobody having a first mover. >> so rakuten helping walmart get into e-booke-books, slightlr in the game. target rgetting ready to square off against amazon. the company getting ready to

start its first same-day delivery services. the plan is to have the service in a majority of service in stores by the time the holidays come around. it's $99 a year for membership >> there we go the subject of companies moving into new areas,tencent is getting into the movie business. the company taking a stake in u.s. film production company sky dance media, co-producer of th star trek and mission impossible franchises shares of tencent rose nearly 3% in hong kong today big jump initially hong kong has been on a tear as a broader index so far this year

and last year. tencent a strong performer still ahead, president trump responding to a news report that he wanted to fire special counsel robert mueller last june those comments coming up >> first here is the national weather forecast from bill karins >> good friday morning to you. this weekend a rain storm moving across the country that's about it. a quiet day today and the january thaw continues in the middleal of t aof the country as we go through this weekend, we'll see a new storm. it will move through the middle of the country, draw moisture off the gulf of mexico by the time we get through saturday, heavier rains will develop in louisiana, mississippi, southern portions of alabama a bit of that rain on saturday gets kicked up through the tennessee and ohio valleys by sunday, the rain shifts into the southeast. florida, not a good sunday for you. lots of clouds and rain. that rain extends up through the carolinas. in new england, maybe early

morning rain and clearing out at ysunday afternoon th'sour business travel forecast more "worldwide exchange" when we come back any object. any surface.

if you've got a life you gotta swiffer

welcome back to "worldwide exchange." i'm wilfred frost along with courtney reagan. let's get you up to speed on the market action. futures pointing higher, about 45 points on the dow as we come in for the week as a whole, all three indices up about a percent. currency board for you, which had some fascinating intraday volatility yesterday, largely

because of joe kernen's interview with president trump, the story of the week from davos had been that comments from secretary mnuchin were interpreted as him stepping away from the strong dollar mantra. that was put to bed last night or yesterday afternoon by president trump in an interview with joe kernen. big intraday rally yesterday today we're back to a weak dollar, but somewhere from the lows we saw yesterday. 1.245 for the euro yesterday the euro was as high as 1.254 president trump is responding this morning to reports that he ordered the firing of special counsel rob burt robert mueller lastdown but backed off edward lawrence has more >> special counsel robert mule

we're have known that the president wanted him fire because of his investigators, and their conversations with the white house counsel. the president c, confirmed by nc news, ordered mueller fired after he learned that the russian investigation was widening to obstruction of justice, but backed off when the white house counsel threatened to resign rather than follow out that order the president within the last 45 minutes or so responded to that. >> did you seek to fire mueller? >> fake news, folks. fake news. typical "new york times" fake stories. >> the president's private attorney says that he wasn't going to -- he would decline to comment on the story out of respect for the office of the special counsel. democrats are pouncing on this already. senator richard bloomenthal coming out saying this president would stop at nothing to protect himself from obstruction of justice. republicans are a bit muted. because for them it is sort of no harm no foul.

the special counsel is still doing his job, and that investigation, according to the white house, is in the beginning of the end of the process. >> it's a positive message the united states is doing fantastically well better than we've done in decades. the stoemg stock markets are incredible i think it's going to be a great message that people will like hearing. >> thank you to edward lawrence there in washington. and the president there talking ahead of his speech at 8:00 a.m. eastern time before that, 6:00 a.m. eastern time is joe kernen's full interview with the president something you must watch coming up still ahead, the top stories and a round up of the global market picture and more highlights of that interview that joe recorded. he's joining us in about ten minutes to preview the interview. later, who runs the fast food world girls. kfc revealing its first ever female colonel we'll tell you who it is after

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america first. president trump is ready to deliver his message to davos a live report coming up. the almighty dollar. the president tells cnbc that the greenback will get stronger and stronger highlights straight ahead. and just do it why bill ackman is taking a stake in nike. it's friday january 26, 2018,

you're watching "worldwide exchange" on cnbc. good morning a warm welcome to "worldwide exchange." i'm wilfred frost. >> i'm reagan in for sara eisen let's look at the futures. pointing us to a stronger open today after a bit of a volatile session on wall street yesterday. we started off high, dropped down a bit ultimately ended up higher for the dow, which is the index leading us higher for the week, up 1.2%. looking to add to that if the dow were to open now it would open up by 51 points. look at the ten-year note, also in focus this week we were higher this morning on the yield, still are 2.636 at this point for the yield on the ten-year ahead of president trump's speech at 8:00 a.m. full interview with joe kernen

at 6:00. >> the general theme of a weaker dollar has taken effect, japan having a soft couple of days down slightly today. it has been down on days of yen strength hong kong continues remarkably to shrug off any threat whatsoever up 1.5% for today. 11% higher so far year to date that follows 35% of gains last week european trade has been hampered by that stronger euro. the ftse and the pound the ftse down 1.5% for the week. the dax and cac down 1% for the week before today's move just offsetting that a bit today. france will end close to flat for the week germany and ftse 100 will be down president trump will address the world economic forum at 8:00 a.m. eastern time, first he sat

down with joe kernen in a wide ranging interview. here's what the president had to say about his message to those gathering in davos this week >> when i said i would come to davos, i didn't think in terms of elitist or globalists, i thought in terms of lots of people who want to invest lots of money and they're all coming back to the united states. they're coming back to america i thought of it much more in those terms. after i said i was going, there were massive stories about the elite, globalists, planes flying in everything else. it's not about that. it's about coming to america, investing your money, creating jobs, companies coming in. we're setting records every week, every day. you can see apple with $350 billion. most people thought they meant 350 million, which would build a nice plant i spoke with tim cook. i was honored by it. you remember in my campaign i used to say i won't consider this great unless apple starts coming in and investing big money doing the plants

they'll do a lot >> you moved a little -- >> but so many companies are coming in. >> joe also asked the president about trade. >> i like bilateral, if you have a problem, you terminate when you're in with many countries, like tpp, so you have 12 12, if we were in, you don't have that same - you don't have that same option. somebody asked me the other day, would i do tpp here's my answer i would do tpp if we had a much better deal than we had. the deal was a horrible deal nafta is a horrible deal, we're renegotiating it i may terminate nafta, i may not. we'll see what happens nafta -- i told stadiums full of people i would - >> so you might reenter -- are you opening up the door to reopening tpp or -- >> i'm only saying this. i would do tpp if we were to make a substantially better deal the deal was terrible. the way it was structured was terrible if we did substantially better deal, i would be open to tpp >> that's interesting.

would you hand -- >> are you surprised to hear me say that >> yeah. i'm a little taken aback >> don't be surprised. no the deal was a bad deal. like the iran deal is a bad deal >> maybe not nafta can you give me an indication of which way you're leaning a lot of ceos on here, they all seem to acknowledge that it's 30 years later, there's a lot of changes that make a lot of sense, but not to abandon the deal >> we have a trade deficit with mexico $71 billion a year right? we have a trade deficit with canada of a substantial amount of money i have a number, they keep arguing. i won't say it i won't tell you it's $17 million, okay? we have a trade deficit with canada, a massive trade deficit with mexico. we have to do something. >> are you leaning in towards staying in or would you really - >> i always said during the campaign, as you always notice and said a couple times, i've fulfilled a lot of what i've said

i'm only here a year i think i have four years, maybe another four years we'll keep going, and see what happens. but we have a $71 billion trade deficit with mexico. we have to do something about it we can't have that will we renegotiate it we're trying right now with bob lighthauser and the whole group. i think we have a good chance, we'll see what happens >> the president also talking about the dollar saying comments by steven mnuchin earlier this week about a weaker dollar were misinterpreted >> i think they were taken out of context i read his exact statement i will tell you where i stand, which is ultimately very important. number one, i don't like talking about it because frankly nobody should be talking about it it should be what it is. it should also be based on the strength of the country. we're doing so well. our country is becoming so economically strong again, strong in other ways, too, by

the way, that the dollar is going to get stronger and stronger and ultimately i want to see a strong dollar. >> the dollar moving markedly higher yesterday after those comments you can see that jump at about 2:00 p.m. eastern time a strong reversal of the trends we had seen. secretary mnuchin was talking about it, then trump says nobody should be talking about it but here i am, i'll talk about it. >> big turnaround in the dollar yesterday. strengthened back to a weaker dollar today, which highlights the fundamentals at play we had the ecb meeting yesterday. stronger growth in europe. perhaps than in the u.s. so fundamentals at play. but either way, the president moving markets yesterday thanks to that interview from joe kernen let's get out to the world economic forum in davos. joining us is real estate developer jeff green thanks for joining us. >> good morning. >> i wanted to start more broadly on the topic of the president at davos clearly coming into this week

the expectations were that the tone would be friction there would be animosity towards him. what's your sense of the reaction to the president being there on the ground now? >> well, i never thought there would be i lived next door to the president at palm beach, i had a chance to visit with him last weekend. we talked about davos. i said the one thing about davos, we welcome our world leaders here with the ultimate amount of politeness, cordial approach even we had rouhani here and we were nice to him he is being treated like any other world leader as they should be. they're greeted warmly >> in terms of the president himself, whether at davos or not, do you think he deserves to be welcomed warmly how do you assess the first year in office or so? you were on cnbc in the summer or so and you were a little more skeptical, cautious about some of the moves he was making and whether that would spur economic

growth >> i'm a democrat. i don't agree with a lot of the things he's doing. but i have to say that as far as coming here with his cabinet, he's coming really with a much different machine than he started with when you look at an administration, it's like an orchestra. the first time you're in practice, you have bad-sounding violins and cellos i've seen mnuchin, chao, wilbur ross, acosta, they are all singing the same tune, talking about why they did the trade, the tariffs, sticking in unison. so i think that together the team is working well as a team some things in the tax bill, of course the supply side economics will create growth do i think they left out the workers? yes. some of what they did for labor was okay they should have had, instead of cutting the tax rate from 39.6 to 37% for people like me, i would have much rather seen an

earned income tax credit, which would have been effectively a negative tax, and brought peoples wages up from $8, maybe to $12 an hour it's great that companies like walmart and jpmorgan are voluntarily giving raises to some employees what about the poor guy in omaha who is working at dairy queen, making an hour where is his bonus from this tax cut? >> wall street likes the tax reform and the tax cuts that are to come. equities continued their march higher economic growth seems to be getting stronger in general, jeff, what is your outlook on the economy, on equities as well there's a lot of optimism in davos. >> that's for sure there's 2,000 people i don't think i met one person who has been negative here i have to tell you something, alan greenspan talked about irrational exuberance, i'm seeing irrational complacency here everyone feels we have a perfect

global economy we're all growing together at 3% plus everything is going great. what i'm seeing personally is wag and my feeling is wages will start to grow. people trying to get an internship, then a part-time job, then they have a full-time job, that's where the phillips curve starts to play you see wages growing, labor getting more bargaining power. a little more inflation. then that's where the game is over you get some inflation, you get higher interest rates. what happens to real estate values the art market, what happens to the stock market, the bond market we're in a global bubble everywhere at some point these bubbles will start to deflate >> jeff, thank you very much for joining us jeff green live from davos >> good to be here >> we have some live pictures of the president right now. in fact, he's holding a

bilateral there with the president of switzerland that's president bisset in switzerland. so no doubt a key man there in davos. that is a live picture we look forward to the president's speech at 8:00 a.m. eastern time mr. of his exclusive interview at 6:00 a.m. eastern time. coming up after the break, we'll talk to the man that executed that interview, joe kernen will join us with a preview of some of the key things to be focussed on when they roll out. that full interview at 6:00 a.m.

time for our must-reads. my pick is in the "wall street journal. it's titled trum e ed trump's i offer. reports last week said the white house suggested a possible path to citizenship for 800,000 dreamers in terms of funding the wham the editorial board writes these concessions would limit the number of illegal immigrants and talent, but we recognize compromise is needed to break the veto that both sides have held over immigration policy for so many years a relatively short read but still interesting as the daca discussion continues. there doesn't seem to be much budging on either side any concessions is something we should watch carefully

if it leads to us a compromise at all >> we lost a bit of focus on that deal as the week progress with the focus on davos. february 8th is close. >> very close. >> as many people said during the last shutdown, if we push through another, with another short-term deal in march, you get to the debt ceiling issue, which is a much more serious issue for markets than just a simple short-term shutdown we'll have to wait and see if that becomes a focus the president is scheduled to make his speech in davos, and that's at 8:00 a.m then before that, we'll have all of the highlights from his interview at 6:00 p.m. a preview from joe coming up before that, our trending stories. we'll get to that now.

>> it looks like oprah 2020 might be a no go oprah winfrey declaring she's not interested in a white house bid. the media mogul telling in style magazine she doesn't have the dna for it this comes after winfrey's powerful political speech at the golden globes which led to that viral video campaign to get her to run for office. this interview, for anybody who is a hold you the, was conducted three weeks before the speech. so you never know. >> you're still holding out hope >> i'm not going to comment. i do love oprah. as a person. >> who doesn't love oprah in general, overall >> she's fabulous. >> there you are kate and oprah check it out that was quite a moment. >> it was top five of my life. >> top five. there we go. >> kate, we'll hit the pause button briefly on trending we'll come back in a moment. that was the top five moment for kate rogers. i bet what joe kernen carried out yesterday was a top five

moment for him joe joins us now with a bit of a preview of what else we can expect some huge market moving news yesterday on the dollar. big headlines on tpp we look forward to the full interview at 6:00. >> yes i do, too. you know, you get older, wilf, every day is new i'm looking forward to the interview. no, i remember almost all of it. seems like a while ago already, but it will be good. the president tweeted it out so maybe we'll have some new viewers. looking at my twitter feed, they're like what's cnbc these are some of the trump viewers that we hope to bring in now. >> of course >> there's 46 million, not all of them are watching at any given time >> we also hope to bring in fans of clinton and bernie sanders as well but you're right, today we will attract the other side >> wilf, wait a second

hold on. wilf wilf relax. down boy >> i'm just saying, all viewers are good viewers >> the viewers that are on this twitter feed responding to the president's tweet, a lot of them are a far cry from fans. you know what's out there. >> i was being facetious all viewers are good viewers gdp out at 8:30 a.m. this morning. did we talk about economic growth >> yeah. we talked about jamie dimon, lloyd blankfein, some of their comments both democrats i president bushed both on how do you decide who to support in a presidential election? with lloyd, it was like he acknowledged -- he didn't think the market would be near these levels wasn't sure gdp growth would be where it was if hillary clinton were elected i asked lloyd when he was on,

was the outcome that actually happened in the election, was that favorable in your view now? were you betting on the wrong horse? almost got him to admit it i recounted that story to president trump, he said they'll never admit it there's lots of stuff in there >> you can talk about a lot of things in 23 minutes of a conversation every once in a while i try to get as much as i could in. so it looks like i'm interrupting the president of the united states what i'm trying to do is just get to immigration. i wanted to get to income inequality, since that's such a davos issue. you have a president that in the private sector sees himself as a problem solver it would be great to solve the skills gap in the united states. if we had 3%, 4% growth we could pay for things like vocational schools, education whatever we need to match up or

work force with the economy of the future he responds to that as well. >> we look forward to 23 full machines to come on "squawk box. longer than his speech, which is only scheduled to be 15. makes it more important to make sure everyone tunes in at 6:00 a.m. for joe's full 23-minute interview with the president joe, great stuff stuff look forward to it on "worldwide exchange," we'll get back to trending kate is with us. sorry, we had to briefly interrupt that >> president trump is more important than cryptocurrency. katy perry shawowed off her cryt claws. her fingernails had the logos of cryptocurrency >> she apparently had a picture of warren buffett one time saying no big deal, talking to warren about cryptocurrency. >> kate and i are only bringing you this story because of fair

and balanced news. >> we are taylor fans. >> we are team taylor. >> the accrimony between the two still there? >> unclear which side are you on? >> i won't pick sides. i probably have a favorite >> this is for courtney. kfc has its first ever female colonel sanders, and it is reba mcentire she will appear in commercials dressed in full colonel gear the ad is set to start running on january 28th. >> this is very exciting i do believe she's from louisville, kentucky i think it's appropriate who doesn't love reba. i met her once, she was everything you could hope she would be she was lovely >> you both met your idols this morning. >> oprah was the same f she was watching >> i have to get one in next time

kate, thank you very much forevfor that still ahead, blockchain is important. our next guestas h that view on cryptocurrency next. jimmy's gotten used to his whole room smelling like sweaty odors. yup, he's gone noseblind. he thinks it smells fine, but his mom smells this... luckily there's febreze fabric refresher for all the things you can't wash. it finds odors trapped in fabrics and washes them away as it dries. and try pluggable febreze to continuously eliminate odors for

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welcome back to "worldwide exchange." joining us is steve cheverone. thanks for joining us. >> good morning. >> volatility in the dollar yesterday after the president's comments to joe kernen on cnbc all through the week as well we've seen big intraday moves, the general theme again today is one of a weakening u.s. dollar does that continue at this pace for the rest of the year is this a final move lower >> it looks oversold to us i get the market's reaction on mnuchin's comments, particularly because the administration has been focused on trade. the truth is the economy is growing faster earnings are growing faster. we have fiscal stimulus. the fed is in a tingti inga tigg

cycle. we think the dollar should move higher not lower it looks oversold here >> if the dollar is oversold, is the market overbought? >> no, i think valuations will continue to look better. earnings are getting revised higher we entered the year around $145 in earnings. consensus at 150 you start looking at forward multiples at earnings rising that fast, then it looks 18 times, not 20. we think the market can get more expensive. >> gdp out at 8:30 a.m what are your forecasts for 2018 as a whole how long are those levels sustainable for? >> we think 3.2 for the quarter. the street is at 3 we think 3.4 for the year. there's underlying economic momentum and three quarters of 3% gdp growth in a row would be the best in 13 years that's real. it's organic it's sustainable we think it continues. >> for how many years? is that the same for '19 and

'20? >> we forecast out for '19, and we have a 3% forecast for '19. what about wage growth that's a concern for many economists does that hold us back >> inflation in general is probably the biggest risk to the rally that we have i think wage growth will build, but it will be slow. there's structural forces that kept inflation at bay, whether it's automation, globalization all those long-term forces we think inflation will move higher, but at a measured pace we think that debt becomes a bigger issue in '19 rather than '18. >> we mentioned the dollar and equities, bond markets the yields go from where >> again, just as the dollar looks oversold, maybe the treasury is oversold here. we wouldn't be surprised to see a tactical rally we think yields will move higher through the course of the year in a grinding measured pace of 3% >> thank you very much for joining us >> thank you >> that's it for "worldwide

exchange." huge interview to come on "squawk box. joe's exclusive interview with the president starts just the other side of isth short break r thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.

good morning welcome to a special presentation of "squawk box" live from the world economic forum in davos, switzerland. this hour president trump speaks to cnbc before he speaks to the global ceos and world leaders gathered here. joe kernen's interview with the president is just minutes away it's friday, january 26, 2018. "squawk box" begins right now. ♪

♪ >> good morning, everybody welcome to "squawk box" here on cnbc we are live from the world economic forum in davos on our final day of coverage here i'm becky quick along with joe kernen and andrew ross sorkin. and take a quick look at the u.s. equity futures. yesterday was a mixed day for the markets. the dow and s&p were higher. nasdaq was off, but this was a fractional decline this morning dow futures indicated up once again by 63 points s&p up by 10 points. nasdaq up by 42. we have to talk about the dollar and the action yesterday joe sat down with president trump. in those comments the president talked about how overall he is in favor of a strong dollar. he expects to see the dollar picking up steam, picking up speed as the u.s. economy continues to power higher. all of that went into action and the dollar picked up substantially. big turnaround from earlier this week after secretary mnuchin