president trump agreeing to meet with kim jong-un. details straight kets are reactg to the news. and a sign of the times for retailers, as toys "r" us is moving closer to shutting down u.s. operations. it's friday, march 9, 2018 "worldwide exchange" begins right now. ♪ good morning a very warm welcome to "worldwide exchange" on cnbc

i'm wilfred frost. let's take a quick look at the market action this morning overnight reaction to president trump's meeting with the north korean leader, which we're hearing could happen by may. it has helped u.s. futures this morning, up 30 points. nasdaq up 14 points. the s&p up 3 yesterday about half a percent of gains and week to date before today up 1.5% for the dow. s&p up 1.8%. nasdaq up over 2%. all three indices will have their third positive week in four, which despite individual days of decline like we saw around gary cohn's departure, it's remarkable we have three positive weeks out of four those big pullbacks already in the distance there's the ten-year treasury note for you, 2.88%. we'll keep an eye on that. when we get jobs number, we'll

see if that moves. a major story out of washington president trump agreeing to meet with kim jong-un let's get to tracie potts with the latest good morning >> reporter: good morning. it came as a surprise, this announcement from the white house, but by the south korean national security adviser. he says kim jong-un is eager to meet with president trump, will stop the missile tests in the interim and is ready to talk about scaling back his nuclear program. president trump considered it a big win saying that this showsi reaction here on capitol hill with republicans saying this shows that that campaign is working, but there should still be skepticism to this possible meeting between the president and kim jong-un. democrats worry that the president can go off script because there's been a history of insulting between those two they're worried about what the president might say if he's

unscripted in a meeting with kim jong-un. >> what is the reaction in washington from other members of the republican and democratic parties? is this something they unanimously support and see as a positive step moving forward or not? >> a positive step but on both sides people are skeptical that this meeting might happen. keep in mind, this is a historic meeting. we never had an american president sit down face-to-face with the leader of north korea >> it will be unprecedented if it does come together. tracie potts, thank you very much a sharp turnaround in asian equities as news broke that president trump would meet with kim jong-un. nancy hungerford is live in singapore with the latest. >> welling right when that announcement was made you could see the relief in the asian equities the japanese main market did pop at one point it did come off that level but

still closed higher. green arrows across the board for the region the relief as it pertains to the korean peninsula was most pronounced in the kospi. south korea not as pronounced there. look at some of these stocks including hyundai elevator high by more than 22% you can see hyundai elevator company. it wasn't all good news across asia when it comes to the underperformers. look at the big steel names. posco among the big losers in japan, kobe steel lower and bluescope steel lower by 2.7%. many of these countries are wondering if these exemptions in the steel and aluminum tariffs that were there for mexico and canada will be there for them, too. what is likely to be the

political reaction if they are not excluded like mexico and canada the eu reaction is one of disappointment because they say on national security grounds we should not be excluded i would be thinking japan would think similarly. >> we've already heard lines very similar coming from japanese authorities saying there should be no national security concerns given that we are an ally. you can expect the same tone from south korea as well give than we saw the australian prime minister in washington, d.c. making a big push for australian corporates to have a push in the u.s., they are looking for some assistance and also encouraged by the fact that washington, d.c., the president himself has pointed out that australia is an ally and we were learning to xhechcomments from bluescope steel ceo saying they were confident of their investments in the united states, but the stock still off almost 3%. there's a degree of nervousness out there. >> thank you very much for that.

let's get more on the early market action. joining me is freddie late from latitude investment management good morning to you. thank you for joining us let's start with the topic of tariffs and trade protectionism. they seem to be focused and with some exclusions, canada and mexico is thata more positive outcome than it could have been such that it won have lasting effects on the economy >> it could be one thing about donald trump is he starts off with the most extreme position on all of these negotiations, his art of the deal and row back a bit. so we've seen that with these nafta countries. i think it's already going to have less of an impact than anticipated in north america >> more broadly, though, his policies of things you support on the economy or not? >> so, if you look at fiscal spending and fiscal easing, his tax cut was a huge boost to the u.s. companies that i own and

the u.s. market in general and should do well because on average the companies we talk to are reinvesting a third of that saving into wages and technology future productivity gains and discretionary income should rise that's a sugar hit for the economy. the same thing with his fiscal spending plan. on the other hand he's taking away in terms of tariffs and protectionism that's going on inside the white house so it makes things more volatile and less certain, and it means that the numbers coming through businesses and the cash flows are less certain that will lead to a little de-rating. in the next 18 months we could see increased inflation driving higher rates and that ultimately will end this bull market. >> you think the recent correction was a sign of things to come in the near future >> the recent correction i'm not entirely sure what caused it, but i think we passed that era of low volatility. we're entering the late stage of a bull market in my opinion.

and uncertainty at the fundabilitial bottom-up company level is increasing, from the top-town perspective, go yo political tensions and increases in protectionism are driving more confusion in the industry i think it is a sign of things to come and i think the stock markets in the next 18 months need to watch out. >> despite that, looking at your stock holdings here, alphabet, bank of america of america, these companies have done phenomenally well in recent years. how do you square holding companies like that with the view that the market is due a pullback >> the market being due a pullback we still own equities within our portfolio. do you want to own businesses like an alphabet, where i believe there is secular and structural growth in that business or keep investing in cyclical businesses? the only cyclical businesses where we see any value is the u.s. banking shares, and we own bank of america and goldman

sachs. banking is phenomenal in america despite profits may fall during a recession, they are twice as well capitalized, three times as much liquidity as in the past trading on a 30% to 40% discount to historic multiples and the highest quality of assets they have had in 50 years with a focus on underlying core banking as opposed to proprietary trading and other activities like that. to me that's the area of cyclicality that investors should be looking at >> thank you very much for joining us this morning. switching to the wall street agenda, the u.s. labor market will be front and center the february jobs report is out at 8:30 a.m. eastern time. forecasts call for an increase of 205,000 in non-farm payrolls. steve liesman's first on cnbc

interview with chicago fed president charles evans at 8:40 a.m. on "squawk box. toys "r" us may soon liquidate its u.s. operations. landon dowdy has more on that. trouble in toy land. sources tell cnbc that toys "r" us could close down its entire u.s. business, though the situation is still fluid that news is impacting shares of hasbro and mat tetel in early trading. hasbro off by 2.5% mattel off by 5% both retailers said the bankruptcy last year affected their business toys "r" us filed for chapter 11 in september amid fierce competition from walmart, amazon and as more shoppers buy online toys a"r" us obtained a 3.$3.5 billion loan to keep running,

but they were risking breaching the terms of the loan following a disappointing holiday season sales, store traffic and profits fell short of what they told lenders to expect. toys "r" us has more than 800 stores nationwide. back over to you >> thank you very much for that. some other stocks to watch, wynn resorts agreed to pay 2$2.6 billion to settle a lawsuit by japan's universal entertainment, this would end a six-year dispute between steve wynn and his former associate it stems from allegations that ocado violated u.s. anti-corruption laws coming up later today, contessa brewer will have an interview with wynn resort's new ceo, matt maddox. dennis muhlenberg says the company has the cash horsepower to make targeted acquisitions.

he also says boeing is in talks with embriere. tesla says its accounting chief left the company for personal reasons he joined tesla in 2016 after working at sun power tesla down 1.4%. we're just getting started on "worldwide exchange." still ahead, we're talking trade. president trump slapping new tariffs on steel and aluminum imports with some carve-outs we have global reaction straight ahead and we're counting down to the jobs report. the key numbers to watch out for. "wlddexcng bk orwi ehae"acin a couple minutes but i'm not standing still... and with godaddy, i've made my ideas real. ♪

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welcome back to "worldwide exchange." let's look at the market action. coming off a day where we did see about half a percent of gains for the major indices. for the week up 1.5% for the dow. s&p 1.8%, nasdaq up over 2%. we'll add to those gains slightly this morning. the dow is up 30 points. nasdaq 13. the s&p 3 points dollar board for you, it's up about 0.2% for the week. it could be three weeks of gains on the trot, especially when you look at the gains over the yen elsewhere no real moves. we have a bank of japan decision out overnight.

still having short-term rates at minus 0.1% we are seeing a half of a percent of weakness of the yn again yen against the dollar. president trump signing off on steel and aluminum tariffs with some exceptions kayla tausche joins us with more >> reporter: a week of intense lobbying from allies, lawmakers and others within his cabinet led to a softening of the tariffs, and that did get signed by the president yesterday they will take effect within 15 days, just about two weeks though a senior administration says they will be flexible for other countries, they will exclude canada and mexico in the short-term, though that exclusion will be contingent on whether those countries make any concessions in nafta negotiations which are set to pick up again in just about a month's time

that flexibility for other countries will take place in the next two weeks before the tariffs take effect. that's what president trump said yesterday. he hopes the threat of these tariffs bring others to the negotiating table to help the u.s. narrow its trade deficit. to that end senior administration official also says the white house expects no negative effect on jobs from these tariffs and says the effect on pricing for companies in the aluminum and steel space will be negligable as for other countries that could be excluded if they apply for exclusions, secretary wilbur ross said yesterday they will consider that if potentially those countries institute tariffs of their own on steel and aluminum to stop the dumping into their countries here's how secretary ross worded it yesterday >> our hope is that in negotiation with the other

countries part of the basis for potentially releasing others is them acting in concert with us and them holding down the excess dump nothing their markets and the trend ship 7ment through thr markets. >> the u.s. has been studying this for 11 months 15 days is not a long time for other countries to arrive at similar decisions. then there's all the criticism that has erupted in the wake of this decision. you saw house republicans earlier this week come out and say they didn't believe the tariffs were the right option but suggested some options for tailoring them then the criticism from the senate grew vocal yesterday. you had the thsenate finance chairman orrin hatch saying he disagreed with the tariffs senator mccain said the same thing. and senator jeff flake saying that he believed these tariffs would spark a trade war and

saying he would draft and introduce legislation to nullify the tariffs and urges his colleagues to pass it before this exercise in protectionism inflicts more damage on the economy. we'll see whether congress has those tools to actually effect that nullification and whether enough people in flake's party support him in that effort >> so this is fascinating about whether we're likely to see more carve outs and it resting on whether the likes of the eu orrya pan are willing to impose their own tariffs on other nations. it points to the fact that there could have been a more thought-through process to begin with either way, what do we expect the fallout to be if those extra carve-outs are not forthcoming clearly all these countries are allies and it will cause friction with some important international partners >> regardless of where each individual country stans on ttan

tariffs, you then have the world trade organization, which when president trump instituted similar tariffs back in 2002, the wto ended up overturning those. there's a natural read senthougt the european union thinking if these tariffs will go into effect they will bring this issue to the wto and expect a similar outcome as to then to that end the trade chief is meeting with robert lighthizer this saturday. we'll see whether they arrive at a compromise >> kayla, thank you very much for that kayla tausche for us in washington much more reaction to president trump's new trade tariffs throughout the day on cnbc at 7:30 eastern, you'll hear from bill morneau, at 11:00 catch our interview with treasury secretary stephen

mnuchin. more coverage of this story throughout the day fresh reaction from the european union side of the debate and willem marx is live in brussels with more. good morning to you. >> good morning, wilf. as kayla mentioned there, cecilia malmstrom the commissioner of trade is hoping to meet with robert lighthizer here tomorrow. she said this morning she would be seeking further clarity about whether the eu would be excepted from the trade tariffs on steel and aluminum and she was critical of the way this was handled seeing that the europeans see themselves as allies of the u.s. here's what she said if these tariffs are not going to exclude them from this process >> we will go to wto, possibly with other friends we have to protect our industry with rebalancing measures, safeguards, and preparing with member states a list of rebalancing measures that could

possibly enter into force. >> worth pointing out there will be a distinction in terms of timing with the u.s. able to enact these tariffs within 1 days in brussels things move more slowly, we're expecting up to three months of discussions before they can take the measures that we heard talked about by kayla there they will try to safeguard steel producers in theducers and lobbyists here making sure domestic producers are protected. malmstrom was asked about whether there would be potential carve-outs for individual countries in the european union, whether she saw that as concern, she said she hoped the trump administration would look at the european union as a unified trading bloc and any effort to do something different would be met by a challenge by her.

>> thank you very much for that, willem marx for us in brussels up next on "worldwide exchange," a pollo pop why one chicken chain is taking early flight and we'll tell you about the major market milestone you're watching "worldwide exchan" geon cnbc. let's begin.

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welcome back to "worldwide exchange." 22 points on the dow, 12 on the

nasdaq week to date the nasdaq is up over 2% the dow and s&p closer to 1.5%. it will be the third positive week in four for all three indices. let's check on what's happening outside of the world of business phillip mena has the latest. good morning a police sergeant along with 18 other people are being treated after coming to the aid of a former russian spy in a nerve agent attack in britain. authorities say the officer who assisted the 66-year-old on his daughter after they were poisoned remains ohospitalized but appear to be making progress. paul manafort pleaded not guilty to tax and bank fraud charges filed by robert mueller. this comes after he pleaded not guilty to conspiracy and money laundering charges in a separate indictment the new charges are related to manafort's activities in the ukraine.

the future has arrived, now you can buy what is being billed as the world's first commercially available flying car. the liberty has expandable chopper blades that allow it to soar up to 11,000 feet the sticker price, more than $6,000 back to you. still ahead on "worldwide exchange," fire up the time machine. it's the ninth anniversary of a major market bottom, and we will take you back to see how far we've come from that. and why netflix investors are saying thanks, obama the top trending stories are on deck when we come back on "worldwide exchange. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time.

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president trump agreeing to meet with north korean dictator kim jong-un. the latest on this major development straight ahead. countdown to the jobs market holding near the flat line as investors await the february payrolls number. we'll tell you what to watch. and the major market milestone we're celebrating today. it's friday, march 9, 2018 you're watching "worldwide exchange" on cnbc. good morning a warm welcome to "worldwide exchange" this friday morning on cnbc i'm wilfred frost. let's start with the major developing story out of washington president trump agreeing to meet with north korean dictator kim jong-un. the announcement was made last

night by south korea's national security adviser >> north korean leader kim jong-un said he is committed to denuclearization kim pledged that north korea will refrain from any further nuclear or missile tests he understands that the routine joint military exercises in tbee the republic of korea and the united states must continue. he expressed his eagerness to meet president trump as soon as possible president trump appreciated the briefing and said he would meet kim jong-un by may to achieve permanent denuclearization the republic of korea along with the united states, japan, our many partners around the world

remain fully and resolutely committed to the complete denuclearization of the korean peninsula. along with president trump we are optimistic about continuing a diplomatic process to test the possibility of a peaceful resolution the republic of korea, the united states and our partners stand together in insisting that we will not repeat the mistakes of the past and that the pressure, it will continue until north korea matches its words with concrete actions. thank you. >> no american president has ever met face-to-face with a north korean leader. let's get in some reaction to this developing story. joining me now is representative agreeing gregory meeks. good morning to you. thank you very much for joining us live from brussels.

what is your reaction to the news that the president and kim jong-un could meet as early as may? is it a good step forward and what do we hope can come from it >> i all believe in dialogue and conversation this is a first step towards that, that's a good thing. you can't do it in a haphazard way. there's got to be a plan you have to be working with our allies, of course south korea and japan, but our other allies around the world there's got to be a firm will e beness willingness by north korea to allow the iaea come in for inspection it's like the iranian agreement we have to make sure they don't have nuclear weapons i think if we utilize that model that we currently have in place this could be a positive thing but it can't be something -- what concerns me is where there's no plan and the president goes in there

haphazardly, we have conversation and something fails, then we go back to the kind of bombastic talk that was taking place before. >> to switch focus, you're in brussels, big ajechgenda item ie steel and i laluminum tariffs w has the reaction been to the tariffs, and the latest revelation that there are carve-outs, but they only apply to canada and mexico and not the european union, who one would think is a close ally. >> i'm very concerned about the tariff the president put forw d forward. i think a number of members of congresses are, both democrats and republicans. over 100 republicans sent a letter to the president asking him not to do this it sen sends the wrong message the wrong time we should be leading the

conversation translachbt tiplanatlantic tradt vital we have and the most profitable we have shared values, we could raise the standards collectively together as opposed to allowing china or anyone else to lead that seems to me the tariffs does not help our allies t helps chy s as others >> should the u.s. do something similar on german cars is the balance at the moment fai fair >> i think the trade balance, this is why i thought t-tip was tremendously important we have to get back to those conversations. when you think about the global chain, how things areworking and how more interconnected we are today and that ever, we have

to make sure we are removing barriers and having free and fair trade going through that will create jobs and opportunities throughout the cross-atlantic dialogue and figure out how we connect the rest of the world to it. this will make us grow and prosper for the next generation. that's what this is about. it's about growth. we know now that we have to have balanced growth on all sides and fair trade that takes negotiations. >> congressman, thank you very much for joining me this morning. congressman gregory meeks. turning to the wall street agenda the february jobs report is out at 8:30 a.m. eastern time. forecasts call for an increase of 205,000 in non-farm payrolls. the unemployment rate expected to tick down to 4% let's talk more about the jobs report, joining me is john silvia talk to me about your forecast

around the jobs report >> i think the 210,000 is good for us it's a bit above the consensus i agree what's happening is that over the last couple of years employment growth has continued to exceed labor force growth in the united states. as a result that unemployment rate continues to move down. had% is probably the key number there. the average hourly earnings, january was influenced by weather, the composition of the labor force. people want to see is that 2.9% number going to be repeated in february if it is, it will be more of a conviction in the market than inflation is is creeping up and the fed will raise short-term interest rates both in march and in june. >> the wage growth number was crucial last month, what particular number is the market consensus at the moment in terms

of what to watch it had a big effect on bond markets last time around >> i think the whisper number is 2.6, 2.7 the wish that the wage number would come in lower than what it was in the past. we're staying with 2.8, 2.9% number we think the pattern of unemployment continuing to decline and skill shortages that we see do suggest that wages are picking up >> talk about the economic impact of the tariffs if they end up appearing as we expect, 25% steel, 10% aluminum with exclusions for canada and mexico but nobody else. what is the economic impact of that >> we did an estimate in terms of the impact on inflation, that impact is very, very small the problem, as you can imagine, is supply chains

if you have an uncertain supply chain in the process and the relative prices change within buying inputs and outputs, this has a negative economic impact, not only because of uncertainty, but also the disruption in the supply chain while the inflationary impact is small, the economic impact could take a couple tenths off the economic growth numbers. >> john, thank you very much for joining us >> you're very welcome toys "r" us may soon liquidate its u.s. operations. landon dowdy has more on that. trouble in toy land. sources tell cnbc that toys "r" us could close down its entire u.s. business, though the situation is still fluid that news is impacting shares of hasbro and mattel in early trading. look at these stocks hasbro off by 2.5% mattel off by 5% both companies had previously said that the retailer's bankruptcy last year affected their business toys "r" us filed for chapter 11

in september as it struggled with $5 billion in debt amid fierce competition from walmart, amazon and as more shoppers buy online toys "r" us obtained a $3.1 billion loan to keep running, but last month cnbc reported that the company was at risk of breaching the terms of that loan following disappointing holiday season sales, store traffic and profits fell short of what they told lenders to expect. they received court approval early last month to begin closing and liquidating 180 toys "r" us and babies "r" us stores in the u.s toys "r" us has more than 800 stores nationwide. back over to you >> plenty in the uk, or they did. it was a fun trip as a kid sad to see it go if it does go. still ahead on "worldwide exchange," the hanes bottom turns nine years old we're breaking down the best and worst performing sector since the late great mark hanes made

that major market call. and trending today, disney unveiling unseen footage of its veo"star wars" park thatid when we come back

welcome back to "worldwide exchange." market action is pointing higher just slightly on the dow 40 on the nasdaq this will be the third positive

week out of four on the indices. the dow is up 1.5% the nasdaq up 2% the s&p in between we're marking a major milestone on cnbc. it was nine years ago that the late great cnbc anchor mark haines made this bold call >> i will step out on a limb here >> hold on, everyone >> i think we're at a bottom i do >> just how far have we come since the haines bottom? dom chu is here with more. >> i remember i was still on wall street at the time. i was still working in a money management capacity. i remember just how panicked i was during that whole span between the fall into the spring of -- fall of 2008 into 2009 it has been a huge move. if you look at the stock market, the s&p 500 since that point is actually four times what it was back then. i remember the intraday low, the number of the beast, 666 on the

s&p 500 intraday, it closed a little better than those levels. but a massive move higher during that time. we're now at 2740. if you look at the winners and losers, if you put money in the s&p 500 index fund, would have made four times your money but if you would have looked at certain sectors, technology we always talk about. it's the most important one out there. biggest one. consumer discretionary, so the retail side of things is up 560% the financials themselves, we think so much about how badly it's been for the fins since before the crisis, it's important to note the financials got bailed out and revalued. it's important to know if you're a citi group investor, it's a good return since the lows, if you go back to pred-crisipre-cr are still a long ways away from

where you were utilities only up about a double would have lost money overall. telecom up 78% energy a real laggard during that time. as we talk about the way the haines bottom evolved, it was such a huge call at the time it was, hey, somebody saying we have gone far enough for those of us in the markets at that time watching cnbc and seeing somebody say maybe this is a good time it was maybe one of the reassuring voices in the market. >> i'm sure it was in terms of those sector performance, consumer discretionary, it's not staples, but given the amazon threat we've seen, amazing to see any consumer broader brar k eer bra companies do so well >> we think about names like macy's, nordstrom, coals, as you look at the consumer

discretionary sector overall, we know there are certain names driving a lot of performances. i know will you talk about netflix in a bit amazon, if you would have bought at the haines bottom, amazon shares, $10,000 worth, it's worth about $250,000 during that time span. for netflix -- >> up 25 fold. >> massive >> netflix, if you would have invested 10,000 theres in netflix on the bottom, march 9th, that's now worth close to $560,000 >> i like you choose 10,000. is that your typical little investment >> all of those little mutual fund prospectuses, they always say growth of $10,000. >> i had my first job in the city in london, i wasn't managing money, just learning how to do so, but volatility back then, moves of 2% or so

every day in either direction were the norm. just recently we started to see volatility come back a bit that's something we have not seen since then, but certainly not seen for the last couple of years. >> during the heights of the crisis before the markets bottomed out, i was getting e-mail alerts or phone calls sayingure limits are down again in tokyo every night you were dreading that phone call wondering if the markets would be somewhat normal for the next morning it was alesson learned about how much risk exposure people had, how much people panicked or how much markets can move in certain environments, something we have not seen since the financial crisis >> i got bored in the years following. i was like a half percent move in markets my first year, 2% was the norm >> when i first joined wall street, it was the '99/2000 time i watched the dotcom bubble

burst and then the great recession, and it was a really sight to behold. still ahead on "worldwide exchange," countdown to jobs the key things all investors need to be watching in this month's jobs report. futures pointing higher. but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ dawn is serving up dinner for a whole town! that table was like... so big! can one bottle of new dawn clean all the dishes?

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listening, is the new reading. text "listen 4" to five hundred five hundred to start listening today. 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. welcome back to "worldwide exchange." futures pointing higher, up 50 points for the dow the highs of the morning s&p up 5 nasdaq up about 20 we're up about 2% for the nasdaq this week. 1.5% for the dow s&p in between let's bring in allen ruskin. the jobs number, all eyes will be focused on that in terms of the implication for what the fed will do. what's your hunch in terms of both >> the key is going to be the

average hourly earnings. the deutsche bank view has a 2% number on average earnings, and slightly below on non-farm payroll. if we get higher, it's a big deal, lower, it's a big deal >> in terms of the u.s. dollar, talking about the fed, we have some commentary from the ecb and the bank offya pa yjapan. was that more dovish than you expected >> no i'm quite surprised at the way the market is responsing to responding to events on the ecb side and the boj side. the ecb won't do anything in terms of qe until september. nothing new there. the bank of japan won't do anything on their policy side until 2019 it rests with the fed and what

the fed does the non-farm payroll data has implications in terms of the feds dots coming up. that's where the real impact will come. >> in terms of these tariffs we're looking at, we have got some exemptions, mexico, canada. does that now mean this is not a big issue for the marketplace or are you still concerned about implications >> i'm still concerned there's a lot of unknowns. enormous uncertainty that uncertainty will cap risky assets like the equity market. let's see where the carve-outs are. who are our allies, how is that defined? i think it will be tough to see exactly how that plays out and what are the retaliatory measures we'll get from other countries? >> at what point do you get worried about retaliation? if it's still are the rirhetori on steel and aluminum, are you

relaxed for it goes to cars would that concern you >> retaliations will not be on things like steel and aluminum, it will be on other things in a way. it's going to be on things that other countries think are important to the united states it will hit the united states hard in places that are quite difficult to determine >> final view in terms of fed rate hikes, how many this year >> four rate hikes i think the debate now is will they shift from three dots or three rate hikes signaling for this year to four. if anything i think the debate will slowly shift further out, even five rate hikes >> the dollar, if we got four or five would presumably strengthen >> i think four rate hikes is kind of almost priced in now it's five rate hikes would be a big deal back-to-back rate hikes, back-to-back fomc rate hikes would be a huge deal all allen. thank you very much for joining us this morning. only a minute or two left.

a few things to watch today. the february jobs report, that's at 8:30 a.m. eastern time. don't miss steve liesman's interview with chicago fed president charles evans, minutes after the jobs number is released at 11:00 a.m., catch our interview with u.s. treasury secretary steve mnuchin, critical to watch in light of the carve-outs we're seeing with the tariffs. futures we expect to open higher 52 points for the dow. the s&p is up about 5 points the nasdaq up 18 week to date, about 2% of gains for the nasdaq less than that for the dow and s&p. the third positive week out of four for those indices ten-year treasury note for you, close to 2.9 again 2.88% the yield on the ten-year. of course the dollar this morning is slightly higher

because of the move against the yen and the bank of japan as opposed to something more broad. i'm moving to closing bell on monday. i want to say thank you to the whole team here on "worldwide exchange." you're all awesome individuals, a wonderful team together. i feel lucky to have worked with you over the last two years. thank you very much. i'm sad that this final show for "worldwide exchange" is not sitting alongside my awesome partner in crime, co-anchor, sara eisen all of us can't wait for you to get back soon, but baby samuel takes priority for now brian sullivan will pick things up 5:00 a.m. monday. i'll be down at the new york stock exchange with kelly evans from 3:00 p.m. have a lovely weekend. for the last time from me, that's all for "worldwide exchange." xtquawk box" picks things up ne who knew that phones would start doing everything?

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from trading insults to trading invites. president trump accepting an invitation to meet with kim jong-un. this was out yesterday about 7:00 p.m we'll talk to nicholas burns, his take should be interesting he didn't like the aggressive stance trump was taking. the jobs countdown is on and trouble in toy land. toys "r" us moves closer to shutting down its u.s. operations shares of major toymakers are sharply lower this friday march 9, 2018. seems late for a jobs number "squawk box" begins right now. ♪ live from new york where

business never sleeps, this is "squawk box." good morning welcome to "squawk box." we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. joining us is joe terranova, a cnbc contributor >> member of the half time report >> great that you're back. >> i'm back. >> is the show back on >> no, we were guiding the investors through the equity correction during february >> during the olympics you were not on >> you were watching, ow